Washington became the latest state to enact cap-and-trade legislation on Monday when Gov. Jay Inslee (D) signed a carbon-pricing bill into law.
The bill, SB 5126, would take money raised from auctioning the rights to emit carbon dioxide and invest it in infrastructure. The governor also signed companion legislation adopting a low-carbon fuel standard.
- The Washington state legislature made both bills contingent upon the state adopting a $0.05 per gallon increase in the state’s fuel tax to help fund critical infrastructure.
- The state is the 26th largest carbon emitter, according to the Energy Information Administration’s 2018 data on energy-related ...