What Is Cap and Trade?
- Cap-and-trade is a new tax on home heating bills, gasoline, and any products that need to be manufactured or transported.
- Ontario is planning to link its system with Quebec and California under a program called the Western Climate Initiative (WCI). [Link] The two most recent WCI cap-and-trade auctions for California and Quebec only sold 11% and 35% of their credits respectively. Link
- Cap-and-trade is set to take effect January 1st 2017, and this new tax is expected to impact low-income Canadians the hardest.