Democrat Cap-and-Tax Act Too Costly
Cap-and-tax scheme pushes Washington gas prices to highest in nation
Certain industries in Washington are subject to a statewide cap on carbon pollution. To cover their emissions, they’re required to purchase allowances
The Climate Commitment Act, approved by Democrat majorities in the Legislature in 2021, is taking hundreds of millions of dollars out of drivers’ wallets and handing it over to state agencies
The law functions as a gas tax while doing nothing to improve the state’s roads
The high gas prices are harming low- and middle-income Washington families, especially those in rural areas
More on Cap-and-Tax
- Governor Inslee defended the scheme by claiming any effect on gas prices would be ‘minimal’ or ‘pennies’
- The Democrats’ cry of corporate “price gouging” isn’t a logical claim when you set gas taxes aside and see Washington’s gas cost is 35 cents more than Oregon and 89 cents more than Idaho. It looks more like GOVERNMENT GREED and GOVERNMENT GOUGING.
- Republicans proposed a temporary suspension of the state gas tax in 2022 and 2023, which would have immediately saved families and employers 49.4 cents per gallon
- Republicans say the excessive financial windfall from the cap-and-tax policy should be used to address the affordability crisis facing the state’s homeowners and renters
Latest carbon allowance auction
- At the August 30 carbon allowance auction the price for a Washington allowance was $63.03, up from $56.01 in the May auction
- It is estimated that the new allowance price translates to an additional charge of 51 cents a gallon at the pump
- The report from the state Department of Ecology’s August 30 auction can be viewed here