Gov. Jerry Brown, accompanied by former Gov. Arnold Schwarzenegger, signed legislation to continue the cap-and-trade program initially authorized under a bill signed by his Republican predecessor 11 years ago at the same Treasure Island location.
To secure needed votes to pass a vital cap-and-trade bill, Brown made a deal with California's Republican lawmakers that could cost him his legacy infrastructure project—the high-speed train from Los Angeles to San Francisco.
The nation's only state-run, market-based program to reduce greenhouse gas emissions will continue until 2031 without fear of litigation, as it passed with the required two-thirds supermajority needed for tax increases, along with two related bills.
Caling the upcoming vote on AB 398, which has created strange political bedfellows, "the most important vote of your life," Gov. Jerry Brown cast the decision as choosing between "massive new regulations" and market-based mechanisms.