Bill To Withdraw Va. From Carbon-Trading Program Dies In State Committee

"A committee of the Virginia Senate on Tuesday defeated a bill backed by Gov. Glenn Youngkin (R) that would withdraw the state from a regional carbon-trading initiative.

The Senate Agriculture, Conservation and Natural Resources Committee voted down Senate Bill 1001 in a party line 8-6 vote. The measure, sponsored by state Sen. Richard Stuart (R), would repeal the state Clean Energy and Flood Preparedness Act, which entered Virginia into the Regional Greenhouse Gas Initiative (RGGI), an interstate program that mandates that power plants buy credits for their carbon emissions. The initiative returns the proceeds of the auctions of the credits to the state.

Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont are also members of the initiative, with Pennsylvania attempting to join last year though court challenges are still pending. Virginia joined in 2020 under Youngkin’s predecessor, Gov. Ralph Northam (D)."

Zack Budryk reports for The Hill January 25, 2023.

Source: The Hill, 01/26/2023