Twelve northeastern states and D.C. are expected to sign a new cap-and-investment scheme designed to lower emissions from transportation.
A group of 12 states and Washington, D.C. are poised to sign a landmark agreement, the Transportation Climate Initiative, according to an article by David Abel.
The "cap-and-invest" scheme would "require hundreds of fuel distributors in participating states to buy permits for the carbon dioxide they produce," according to Abel.
"That limit would decline over time, mirroring a similar pact that has reduced power plant emissions in the Northeast, with the goal of reducing tailpipe emissions by as much as 25 percent over the next decade."
According to Abel, the money raised over the years by the Transportation Climate Initiative is expected to amount in the billions—money that will then be spent on public transit and other, clean forms of transportation.
For more background on the Transportation Climate Initiative, see also an article by Zeninjor Enwemeka from December 2019.
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