SALEM, Ore. — Lawmakers in Salem are aiming to pass a major transportation package by the end of the current legislative session, and while a full bill has yet to emerge, a progress report published on Thursday reveals some significant new ideas under discussion — most notably, another attempt at a legislative version of a cap-and-trade program.
The idea is to place an upper limit on the state’s carbon emissions and ratchet it down over time, while allowing businesses to buy and sell portions of their emission budgets to create a market for carbon allowances. It’s also sometimes called cap-and-invest, referring to climate change mitigation efforts that would be funded by revenue from the program.
Oregon’s previous cap-and-trade bill was famously stymied by Republican walkouts in 2019 and 2020, and the concept hasn’t resurfaced in the legislature until now. Former Gov. Kate Brown sought to create a version of the program through executive action instead, and the resulting Climate Protection Plan took effect this year after a lengthy court challenge…