The Climate and Community Investment Act (CCIA) raises $15 billion per year from corporate polluters and uses it to create good, green jobs, invest in frontline communities, and build a renewable economy for New York State.
One-third of the funds raised will go to community-based organizations in frontline communities for local programs like community-owned solar, making homes, apartments, and schools more energy-efficient, and investing in adaptation infrastructure. Additional funds will be available for current fossil fuel workers and host communities.
Creating good, green jobs
Research shows that the CCIA would create and sustain over 150,000 good, green jobs over the first decade. The CCIA includes gold-standard labor provisions, including prevailing wage and apprenticeship requirements. People in frontline communities, formerly incarcerated New Yorkers, women in non-traditional trades, and people coming off of unemployment will be prioritized for jobs building our renewable economy.
Building a renewable economy
Thirty percent of the money will go to large-scale investments such as a major solar arrays, offshore wind, grid stability, electric vehicle infrastructure, improvements to public housing and public transit. The Climate Leadership and Community Protection Act, passed last year, set nation-leading standards for getting off of fossil fuels. The CCIA raises the money to get there.
Make polluters pay for the just transition
For too long, fossil fuel companies have dumped their toxic facilities and waste in Black and brown neighborhoods, sacrificing the health of entire communities in order to make obscene profits for shareholders. The Climate and Community Investment Act would make them pay, by instituting a fee on greenhouse gases and co-pollutants. The fee would largely be paid by the companies importing fossil fuels into New York state. At a starting price of $55 per ton of greenhouse gas emissions, which will increase year over year, the CCIA would raise around $15 billion per year over the first 10 years.
One third of the money raised by the CCIA would be used to provide direct assistance to low-and moderate income families via transit vouchers, weatherization or LIHEAP credits, or direct cash benefits. People will be automatically enrolled in this rebate program. Even if fossil fuel companies try to retaliate by raising costs, this energy rebate program will ensure that the lowest-earning 60% of New Yorkers will come out the same or ahead.
Learn more about the CCIA here.
This information is provided by NY Renews.