Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | NOIRA |
Comment Period | Ended on 10/26/2022 |
I am no lawyer but, with all due respect, seventh-grade civics taught me that neither executive nor regulatory maneuvering could undo a law.
Apart from the legality, RGGI was founded on conservative, market-based principles. Power producers and power consumers have historically been subsidized by the omission of a cost of carbon on electric bills - let alone all of the externalities imposed by other emissions of fossil fuel power generation. RGGI is not a tax on consumers. RGGI internalizes the externalities of those emissions. Virginia laws and regulations currently allow those costs to be passed on to the consumer. If the genuine concern is around consumers bearing those costs, revisit the laws and regulations for who bears those costs, how, and when.
The programming RGGI proceeds fund produces flood resiliency for communities and access to enhanced energy efficiency for income-qualifying households. These programs are protecting Virginia's most vulnerable communities, reducing utility bills for thousands of low- to moderate-income Virginians, all while creating real economic benefits for Virginia's small businesses providing these services.
Follow common sense conservative principles and allow the market to work. Continue allowing RGGI to fortify and protect the vulnerable and create economic opportunity in Virginia.