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New York carbon tax proposal fizzles

SHARE: Three weeks remain in the 2021 legislative session, and despite the Democratic supermajorities in the state Senate and Assembly, the controversial Climate and Community Investment Act is almost certainly not going to pass this year. “That doesn’t mean we shouldn’t try and continue to move it up the priority list,” said Democratic Assembly Member Kevin Cahill of the Hudson Valley, who is sponsoring the legislation in his chamber. “I think we can wrap this up in a session or two.” The bill seeks to impose a carbon tax that could raise $15 billion of much needed funding to help the state meet its climate change mitigation goals – but whatever the merits of the legislation – politics is a key barrier to getting it passed. Business groups have claimed the bill would lead to higher energy costs for consumers. Many moderate Democrats have yet to get behind a bill that has become a new focus of Republican attacks.

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