As you may know, the Transportation Climate Initiative (TCI) has released its draft MOU.
TCI is a collaboration of 12 states and District of Columbia seeking to reduce carbon emissions in the transportation sector. The TCI participants will have until next spring to determine if they want to be a signatory to the final TCI MOU. New Jersey, while participating in the TCI process, has not determined if it will sign on. If it does, legislation will be needed to implement the program.
In short, TCI is a “cap and invest” program intended to limit how much on-road gasoline and diesel can be sold in each state and raise money from the sale of allowances. The revenue raised, anticipated to be as much as $300 million annually in New Jersey, would be used for transportation carbon reduction strategies. TCI is essentially the Regional Greenhouse Gas Initiative (RGGI) for transportation.
NJBIA is hosting a member information session on Wednesday, Jan., 8 at 1 p.m. at our office located at 10 W. Lafayette St., Trenton. The purpose of this meeting is to inform our members about the specifics and potential impacts of TCI, to develop a policy position, and to help craft an advocacy strategy. We can also discuss spending priorities should TCI come into effect.
NJBIA would welcome your attendance and input. Please let us know if you can make the meeting either in person or by conference call. You can also provide your comments by contacting me at email@example.com or by calling 609-433-4931. I hope to see you at the meeting.