California

California Lawmakers Introduce Bill to Slash Taxes on Environmental Credits

The proposed legislation would cut taxes on the revenue from sales of environmental credits.
California Lawmakers Introduce Bill to Slash Taxes on Environmental Credits
Oil rigs extract petroleum in Culver City, Calif., on May 16, 2008. Gabriel Bouys/AFP via Getty Images
Kimberly Hayek
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A bill in the California Senate would allow Californians to tap a federal tax benefit available in 45 other states. 
If Senate Bill 302 is passed, California would stop collecting taxes on the revenue from sales of environmental credits as permitted by the Inflation Reduction Act (IRA), which President Donald Trump has committed to curtailing via his Jan. 20 executive order “Unleashing American Energy.”
Kimberly Hayek
Kimberly Hayek
Author
Kimberly Hayek is a reporter for The Epoch Times. She covers California news and has worked as an editor and on scene at the U.S.-Mexico border during the 2018 migrant caravan crisis.