2018 CA Primary Election - Proposition 70
This is the summary of Prop 70 from the Secretary of State's website:
"Beginning in 2024, requires that cap-and-trade revenues accumulate in a reserve fund until the Legislature, by a two-thirds majority, authorizes use of the revenues. Fiscal Impact: Beginning in 2024, potential temporary increase in state sales tax revenue, ranging from none to a few hundred million dollars annually, and possible changes in how revenue from sale of greenhouse gas emission permits is spent."
In order to understand what's going on here, first you must understand what cap-and-trade is. The Sacramento Bee published a pretty good explanation with significant detail to aid in comprehension. The shorter answer is that cap-and-trade is supposed to reduce greenhouse gas emissions.
As the Los Angeles Times points out in its editorial calling for a NO vote on Prop 70, this proposition is on the ballot as the result of a compromise between Governor Brown and Republicans to protect cap-and-trade in the summer of 2017.
This ballot proposition changes the voting structure in the year 2024, for just that year, to require a supermajority vote in order to approve spending money from the cap-and-trade revenue.
This serves no useful purpose. I am voting NO.
"Beginning in 2024, requires that cap-and-trade revenues accumulate in a reserve fund until the Legislature, by a two-thirds majority, authorizes use of the revenues. Fiscal Impact: Beginning in 2024, potential temporary increase in state sales tax revenue, ranging from none to a few hundred million dollars annually, and possible changes in how revenue from sale of greenhouse gas emission permits is spent."
In order to understand what's going on here, first you must understand what cap-and-trade is. The Sacramento Bee published a pretty good explanation with significant detail to aid in comprehension. The shorter answer is that cap-and-trade is supposed to reduce greenhouse gas emissions.
As the Los Angeles Times points out in its editorial calling for a NO vote on Prop 70, this proposition is on the ballot as the result of a compromise between Governor Brown and Republicans to protect cap-and-trade in the summer of 2017.
This ballot proposition changes the voting structure in the year 2024, for just that year, to require a supermajority vote in order to approve spending money from the cap-and-trade revenue.
This serves no useful purpose. I am voting NO.
posted by me at 9:22 AM
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