Prop. 70 a colossal waste of time for California voters
Backers of Proposition 70 on the June 5 statewide ballot claim it would protect taxpayers and ensure money to reduce greenhouse gas emissions is spent wisely.
Opponents say the measure would enable industries to derail California’s progress on pollution reduction and fighting climate change.
And some reports have suggested that
Prop. 70’s provisions could be used to block funding for high-speed rail.
All of them are wrong. Prop. 70 is a political fig leaf and a colossal waste of time. Voters should reject it.
If the measure could really stop the bullet train in its tracks, we’d be more inclined to support it. If it could force better spending of money from the state’s cap-and-trade pollution reduction program, we’d issue a full-throated recommendation.
But there’s no reason to back this silly measure that Gov. Jerry Brown agreed last summer to placing on the ballot. At the time, Brown needed legislators’ votes to extend the capand-trade program to 2030 to help meet the state’s greenhouse gas reduction targets.
Brown embraces cap-andtrade because the program helps reduce pollution and generates state income, estimated at about $3 billion this fiscal year. Twenty-five percent of that is currently earmarked for one of his pet projects, the bullet train.
To protect cap-and-trade from legal challenges, Brown needed approval of two-thirds of the Legislature. To win over reluctant lawmakers, including some Republicans, the governor made concessions.
He agreed to expand and extend a sales tax exemption for some business purchases. And he supported placing Prop. 70 on the ballot. True to his political word, Brown has even signed the ballot arguments for it. Heck, why not? It really doesn’t do much.
Currently, a simple majority of the Legislature determines how cap-and-trade revenues are spent. Prop. 70 would increase that threshold to twothirds — but just once sometime after Jan. 1, 2024. After that, the threshold would immediately return to a simple majority.
There would be nothing to stop Democrats from making one-time concessions to win the two-thirds approval in 2024 and then later, with a majority vote, rebalancing in the next round of funding.
Some have suggested the uncertainty of a two-thirds vote six years from now would prevent the state High-Speed Rail Authority from issuing bonds using future cap-and-trade revenues as security. Actually, the current uncertainty that bullettrain funding could be changed with a majority vote is already enough to stop that.
It’s past time for another public vote on high-speed rail, but that should be a standalone measure. Prop. 70 is no substitute for that.
It’s also unfortunate that cap-and-trade revenues are not first given back to the poor, who are disproportionately affected by the higher energy costs the program creates. But Prop. 70’s two-thirds approval requirement would, if anything, give more power and money to special interests seeking their pieces of the revenue pie.
In sum, there’s nothing to be gained from Prop. 70. It’s bad public policy and a waste of voters’ time. Vote no.
Election 2018