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Olympia Update

The new cap-and-invest law on track to make living in Washington less affordable

OLYMPIA–Washington held its first carbon allowance auction on March 7 under the new cap-and-invest law passed in 2021. Results from the first auction were announced on March 14, in which industry participants and speculators bid on a limited number of "allowances" offered by the state.

California implemented the nation's first multi-sector cap-and-trade program in 2015, which covers virtually its...