CALSTART Says Legislation Directing Investment of CA Cap & Trade Funds Will Create Jobs and Clean the Air -- Urges Fast Approval of Bill Backed by Senate Leadership

PASADENA, CA--(Marketwired - August 18, 2016) - CALSTART, a consortium of clean transportation technology companies, is urging the legislature to support quick passage of legislation that would invest the revenues collected from the state's greenhouse gas Cap and Trade program. With the support of the California Senate President pro Tempore, Kevin de León (D-Los Angeles), legislation was introduced earlier this week that would allocate $1.2 billion in programs to reduce greenhouse gas emissions.

Assembly Bill 1613, which was significantly amended by the California State Senate budget committee this week, would provide $400 million in direct funding for clean transportation programs. The proposed funding is targeted at growing the market for cleaner, lower carbon cars, trucks, and buses in California. The revenues proposed for allocation were secured during auctions that occurred in 2015 and early 2016.

"We applaud the action by the Senate leadership to move ahead and allocate these funds. Every dollar allocated to the transportation sector will have a direct air quality impact. Taking action to invest these funds now will move us faster to a future where all Californians can breathe clean air," said CALSTART President and CEO, John Boesel.

"In addition to the environmental and public health benefits, these climate investments will spur job growth and economic development in California. The proposed low carbon transportation investments will result in increased manufacturing of electric cars, trucks, and buses in California," said Boesel.

In a report released earlier this month, "Time to Shift Into High Gear", CALSTART identified numerous areas where California clean transportation technology companies are growing at a rapid rate. The report also found that the state's policies and investments are encouraging other companies to move to or expand in California. More information on the report can be found at the following url:

http://www.calstart.org/News_and_Publications/CALSTART-in-the-news/CALSTART-Press-Releases/Californias-Clean-Transportation-Tech-Industy.aspx

About CALSTART

CALSTART is a national non-profit organization that works to accelerate the growth of the clean transportation technology industry. Headquartered in Pasadena, CALSTART has more than 160 member companies and manages an array of high-impact programs with its industry and government partners. For more information, visit www.calstart.org.