Borrow $10 billion to respond to climate change
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What did voters decide?
What would it do?
Approving Proposition 4 would authorize $10 billion in debt to spend on environmental and climate projects, with the biggest chunk, $1.9 billion, for drinking water improvements. The bond prioritizes lower-income communities, and those most vulnerable to climate change, and requires annual audits.
Repaying the money could cost $400 million a year over 40 years, a legislative analysis said, meaning taxpayers could spend $16 billion.
Why is it on the ballot?
Environmental groups and renewable energy advocates have been clamoring for increased spending on climate change and the environment in recent years, particularly after Gov. Gavin Newsom and the Legislature approved a $54.3 billion spending package called the “California Climate Commitment” in 2022, only to scale it back to $44.6 billion this budget-plagued year.
About $3.8 billion would be spent on water projects — half to improve water quality, the remainder on protecting the state from floods and droughts, and other activities, including restoring rivers and lakes. The rest of the money would be spent on: wildfire and extreme heat projects, $1.95 billion; natural lands, parks and wildlife projects, $1.9 billion; coastal lands, bays and ocean protection, $1.2 billion; clean energy projects, $850 million; agricultural projects, $300 million.
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For
$11.9M raised
Supporters argue that, given the threat the state faces from wildfires, water pollution, and extreme heat, the need for more spending on these issues is “urgent.” Dozens of environmental groups are backing the measure.
Supporters
- Clean Water Action
- National Wildlife Federation
- California Professional Firefighters
- California Labor Federation
- California Teachers Association
- SEIU California
- League of Women Voters of California
- California Democratic Party
- Metropolitan Water District of Southern California
- California Municipal Utilities Association
Media Endorsements
Against
$0 raised
Opponents argue that “bonds are the most expensive way for the government to pay for things” and that some of the money could go toward unproven technologies. They say that California should pay for such projects without taking on more debt.
Opponents
- Howard Jarvis Taxpayers Association
- California Republican Party
- Senate GOP leader Brian Jones
- Assemblymember Jim Patterson
Media Endorsements
Commentary
For
Against
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