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  • VICA Statement from Cap-and-Trade Bill Signing Ceremony

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    San Francisco – Valley Industry & Commerce Association (VICA) President Stuart Waldman is attending Governor Brown’s cap-and-trade bill signing ceremony at Treasure Island in San Francisco today. Waldman said:
    “VICA was proud to have supported AB 398, the extension of California’s cap-and-trade program. The successful passage of this bill will allow California businesses to continue to compete globally. California’s cap-and-trade program serves as a model for other states with strong and growing economies.
    “The cap-and-trade program is critical to comply with California’s environmental laws without the steep costs which would have been imposed by a command-and-control regulatory structure.”
    VICA, along with other business groups across California, supported the cap-and-trade extension. In 2016, California passed SB 32, which requires the state to reduce greenhouse gas emissions to 40 percent below 1990 levels by 2030. The cap-and-trade extension is the most cost-effective way to meet those requirements.
    The bill is the result of protracted negotiations and includes protection for businesses and consumers. For example, it limits air resources boards to implementing the statewide greenhouse gas emission program, maintains free allowances for companies that are at a competitive disadvantage with out-of-state companies due to cap and trade, maintains allowable offsets, and imposes a carbon price ceiling to protect against cost spikes.
    The mission of the Valley Industry & Commerce Association (VICA) is to enhance the economic vitality of the greater San Fernando Valley region by advocating for a better business climate and quality of life. Visit www.vica.com for more information.
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