Governor-elect Glenn Youngkin announced his intention to withdraw the Commonwealth of Virginia from the Regional Greenhouse Gas Initiative (RGGI), a pact of 11 states requiring power plants inside those states to purchase “allowances” to emit a determined amount of carbon dioxide.
Governor-elect Youngkin said, “RGGI describes itself as a regional market for carbon. But it is really a carbon tax that is fully passed on to ratepayers. It’s a bad deal for Virginians. It a bad deal for Virginia businesses.”