Litigation
Apr. 18, 2013
New lawsuit argues cap and trade auctions are an illegal tax
A coalition of businesses and private citizens filed a lawsuit Tuesday claiming the state is imposing an illegal tax by holding auctions under the state's cap and trade market.
By Fiona Smith
Daily Journal Staff Writer
A coalition of businesses and private citizens filed a lawsuit Tuesday claiming the state is imposing an illegal tax by holding auctions under the state's cap and trade market. The market sets the country's first economy-wide cap on greenhouse gas emissions and the California Air Resources Board holds quarterly auctions to sell pollution credits to major polluters such as oil refineries and power plants. The suit, filed in Sacramento...
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