The Assembly today passed the controversial Cap and Trade bill, Assembly Bill 1532, by Assembly Speaker John Perez, D-Los Angeles, which would deposit Cap and Trade carbon credit permit monies into a new Greenhouse Gas Reduction Account, to be managed by the California Air Resources Board.
What a great idea. California is already precariously perched on the edge of a financial cliff – this could be the push that sends the state right over.
AB 1532 would direct the billions of dollars expected to be generated from cap-and-trade auctions in 2012-13, into the new fund. Revenues are expected to exponentially grow in the future, but only if there are any private sector businesses left in the state from which to extort these funds.
“The ARB estimates annual revenue from the auction of
greenhouse gas emission allowances to range from $2 billion to $5 billion in 2013, with that amount increasing to between $17
billion and $67 billion in later years,” the bill analysis states.
The bill would allow the Legislature to direct the appropriation of the funds, with CARB taking charge of the money management.
I think certain legislators see a new checkbook from which to spend.
No one will be spared from this new carbon tax. As Chicken Little once said, “the sky is falling!”
(Katy Grimes is a longtime political analyst, writer and journalist, and CalWatchdog’s news reporter. Originally posted on CalWatchdog.)
Assembly passes bad Cap and Trade bill: The Assembly today passed the controversial Cap and Trade bill, A… http://t.co/HLFKcv8R #tcot
Cap and trade passes state assembly.
Boy, tell me these Dummocrap/Liberals/Socialist/Communist clowns aren’t out to destroy this state once and for all. “Cap & trade” is one of the biggest scams the Dummocrap/Liberals/Socialsts/Communist have ever come up with.
You can thank Barney Franks, Chris Dodd, and others in Congress and Fannie may for that one. The only thing we have left is remember come November vote “Republican” and then check them out to see if they are faking it.
Terrible! CA Assembly passes bad Cap and Trade bill http://t.co/0oVdYaMk
This is another scam to raise untold amounts of cash for the State to squander on imaginary crisis. Sacramento has already demonstrated their inability/unwillingness to balance the budget. Giving them more funds simply means a greater deficit and more demands for higher taxes. Where do I sign the iniative to repeal this disaster?
Just another bill that will run businesses out of the state,…..The only thing that should be running out of the state, is the idiots that voted for this bill…we should be running them out of the state on a rail. These idiots are not patriots of California, they are professional politicians that are out to line their own pockets.
A PART RIME LEGISLATURE INITIATIVE!!!!!!!
If not this year, next year!!!!!
Assembly passes bad Cap and Trade bill: http://t.co/QJEOeXV1
Assembly passes bad Cap and Trade bill http://t.co/xMkKiHd9 So Bad!!!!
Yet another dagger into the dying business heart of California! However, don’t worry California….you can always get some of obama’s “stash o’ cash”. Plenty of paper and green ink still available!
But it feels so green.
Assembly passes bad Cap and Trade bill: http://t.co/vkul7yCE DOES ANYBODY UNDERSTAND that C&T is a scheme! Carbon credits Is air! #jobkiller
Assembly passes bad Cap and Trade bill: http://t.co/vkul7yCE Cap & Tax will drive business from CA.& jobs with them. It is a scheme!
Assembly passes bad Cap and Trade bill: http://t.co/vkul7yCE The Auction is auctioning off AIR nothing more nothing less. It is Air get it?
Assembly passes bad Cap and Trade bill: http://t.co/vkul7yCE Cap& Tax is nothing but a massive TAX on all business. Forcing Bus.to buy H2O
Gosh, if only could cap and trade goverment stupidity. Then we might finally contain Sacramento! In the mean time, an initiative to strip the Legislature of its fungability (the slieght of hand the Legislature uses to shift funds intended for one purpose, to any other purpose that is unfunded) just might be a show stopper for the spending hijinx.
Will the last business or productive person left please turn out the light before you leave the state?
Seems the Demo-craps have managed to drive out all (or will) all the revenue generating people and businesses and turned it over to the “state” who will have nothing but “Obamamoney” to play with once we all leave. And it won’t be worth donkey squat in a short time either.