Supporters Of 'Cap And Invest' Proposal Look Ahead To 2018
Supporters of a so-called “cap and invest” proposal are laying the groundwork for the Oregon Legislature to take on the issue next year.
The bill would set an upper limit on the amount of fossil fuels used by companies in Oregon. It would then charge a fee on companies that exceed the limit. The money generated would be used on projects that would reduce carbon emissions in Oregon.
Democratic Sen. Michael Dembrow said several work groups will shape the idea this fall to make sure it doesn’t fall short of its goals.
“We don’t want that to happen,” he said. “We want this to be a good thing, to see it spurring renewed investments all over the state.”
Republicans said the proposal is essentially a new tax and the short session is not meant for tackling contentious issues such as a cap and invest program.