Hochul’s climate law delay confounds environmentalists, Dems

New York has no cap-and-invest program in place so far, only an emissions reporting rule. And instead of crippling costs, a January report from the Environmental Defense Fund projected that such a program would actually net $6.9 billion in savings over the next ten years, saving the average family earning under $200,000 about $1,060.

The NY Renews coalition added that reinvesting cap-and-invest funds into construction and transportation could generate over $1.8 billion in annual spending. That could create almost 10,000 direct and indirect jobs every year, they said, who would take on projects like heat pump installations or electric vehicle charging stations.

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