Va. regulators vote to withdraw from multi-state cap and trade program

RICHMOND, Va. (AP) — Virginia regulators voted on Wednesday to advance Gov. Glenn Youngkin’s plan to withdraw from a multistate carbon cap-and-trade program.

Virginia spent years under Democratic administrations moving toward participation in the Regional Greenhouse Gas Initiative, which environmental advocates say is a proven tool to help reduce pollution and address climate change. But that has been thrown into reverse since Youngkin, a Republican who says the program has functioned as a tax on electricity users with no environmental benefit, took office in January 2022.

Wednesday’s final 4-3 vote by the state Air Pollution Control Board advanced the governor’s proposal over a key hurdle in the administrative process, though his plan is ultimately expected to face a legal challenge.

“Today’s commonsense decision by the Air Board to repeal RGGI protects Virginians from the failed program that is not only a regressive tax on families and businesses across the Commonwealth, but also does nothing to reduce pollution,” Youngkin said in a statement after the vote.