RGGI is incredibly important to the health of our communities and our planet. It is vitial that we remain members. Composed of 11 mid-atlantic and northeastern states, RGGI puts a regional cap on carbon dioxide emissions from power plants and companies have to buy allowances at quarterly auctions for every ton of carbon they emit. Over time, the cap gets stricter and the number of allowances up for auction declines, incentivizing companies to cut emissions.

The program cuts greenhouse gas emissions, while returning proceeds to build resilience through funding for the Community Flood Preparedness Fund and energy-efficiency programs for low-income Virginians. Virginia has received more than $370 million dollars for these programs since last year. In RGGI’s first decade, emissions from power plants in the ten participating states dropped by 50% – twice as fast as in the rest of the country.

My tow of Alexandria has received $6 million from RGGI proceeds for flooding mitigation projects in neighborhoods in my district. Additionally, the Arlington Partnership for Affordable Housing has received RGGI funding to renovate 163 affordable rental units in Arlington and to build 80 new affordable senior housing units in Fairfax that will be more energy efficient and reduce energy bills for residents.

Our communities benefit so much from RGGI participation. To withdraw, would deeply damage our state and our children's future.