Update: As insane as this sounds, before the Howard Jarvis Taxpayer’s Association issued a press release in opposition to this scheme… I was told by more than one person with intimate knowledge of the capitol that Chad Mayes had nearly talked them in to endorsing this deal. This is how far the GOP has slid.
As I was writing the previous blog criticizing Mr. Mayes’ Press Release saying “No Deal” on Cap and Trade, an Alert from the Sacramento Bee hit:
Republicans proposed a constitutional amendment Friday that could help win their support for legislation to extend the state’s climate-fighting cap-and-trade program.
The new measure, written by Assembly Republican Leader Chad Mayes, would give the minority party more say over how the program’s revenues are spent.
Under the amendment, cap-and-trade auction revenue would be diverted into a new reserve fund beginning in 2024. The money would remain there until lawmakers approved a new spending plan with a two-thirds vote. During that time, business-friendly tax breaks in the extension bill would be suspended.
The constitutional amendment would require voter approval.
Mayes’ office declined to comment on the amendment, including whether it was enough to get them on board.
Assemblyman Rocky Chavez, D-Oceanside, said Friday that Assembly Republicans were holding out for more. In particular, he said, GOP lawmakers want more than 12 percent of the cap-and-trade revenue to go to agricultural uses. Under current law, 25 percent of the revenue goes to Gov. Jerry Brown’s high-speed rail project.
Brown has been pressing to a win a two-thirds vote on the main cap-and-trade bill, AB 398. The Democratic governor has said he wants Republicans to back the extension. A vote is scheduled for Monday.
Amendments to the main cap-and trade legislation were also issued late Friday. They would expand the scope of the bill’s tax breaks for manufacturers and power companies, which supporters said would help support more small businesses. A spokesman for Assembly Republicans said they were reviewing these changes.
It appears that Mr. Mayes and his team believe that decimating what is left of the California economy and allowing a $300 Billion Dollar Tax Increase to happen is the way to go for California.
I’d really like a copy of that poll to see whatever it is these folks are acting on as this appears to be completely insane.