by Katy Grimes, E&E Legal Senior Media Fellow
As appearing in the Flash Report
While the state of California is extracting billions of dollars from businesses and utilities through the California Air Resources Board’s cap-and-trade program auctions, the Legislature can’t decide how to spend the billions.
Instead, lawmakers have been arguing over how to direct the monies into their own districts on some rather dubious projects, and predictably, on public transit and light rail trains. Gov. Jerry Brown has his own dubious project: He carved out more than $1 billion of cap-and-trade revenue for his unpopular high-speed-train-to-nowhere.
Brown expects to have more than $3 billion in auction proceeds available to spend this year, but on what?