If the budget is approved by the state Legislature, another $350 million would be invested from the Regional Greenhouse Gas Initiative for “clean energy and decarbonization projects” in the state.
The initiative, called RGGI, is a multi-state cap-and-trade agreement that former Gov. Chris Christie, a Republican, framed as “gimmicky.”
Murphy, a Democrat, said Tuesday afternoon in his budget speech that “over the past 5 years, as a member of RGGI, we have received more than $800 million from our nation’s biggest power plants and polluters. And now — in February alone — we are investing $135 million of that revenue into making it easier for our state’s businesses and local governments to expand their fleets of electric vehicles.”
“With each and every investment, like these, into New Jersey’s clean energy future, we are not only meeting our responsibility to combat climate change. We are also creating new, good-paying job opportunities for our workers,” Murphy added, during his budget address from Trenton.
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