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comment California Taxes State’s Worst Polluters
10/26/2009
Photo © Jon Sullivan/Wikipedia
A new California law will tax polluting companies in attempts to alleviate some of the pictured smog that almost hides the famed Hollywood sign.
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California is enacting a statewide fee on polluting companies starting late next year. The California Air Resources Board passed the fee last month, expecting it to help reduce greenhouse gas emissions 25 percent by 2020—one provision of the 2006 Global Warming Solutions Act. The tax will affect over 350 companies that represent 85 percent of the emissions in California. The law, which targets the electricity, natural gas, and coal industries, is estimated to raise $63 million next year.
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