Virginia is poised to become the eleventh state to join the Regional Greenhouse Gas Initiative, a regional compact created to limit CO2 emissions from large electricity plants. Although emissions are already declining, the compact would be financed with a carbon tax to be paid by consumers in the form of higher electricity rates expected to be $6 billion over several years. There is a clear partisan divide on the issue, with Democrats in favor and Republicans against, and the issue may well be decided by this fall’s General Assembly elections. This “Questions and Answers” guide explains what RGGI is, how it is financed, what it would accomplish, and how much it would cost.
