If it passes in November, Initiative 2117 will repeal Washington state's landmark environmental law, the Climate Commitment Act.
On Thursday, the initiative sponsor and the author of the state's climate law shared a debate stage at Seattle University to discuss the contentious ballot measure. The event was moderated by journalist Joni Balter and university senior Sophia Hampton.
The Climate Commitment Act is a 2021 state law that established a cap-and-invest program designed to reduce the state's greenhouse gas emissions by 95% by the year 2050. The law formed a carbon auction program in which large polluters must purchase credits to account for their greenhouse gas emissions.
Supporters of the initiative blame the state's climate policy for higher gas prices and food costs. People against the initiative argue the climate law makes the state a leader in the fight against climate change and provides the state millions of dollars for green transportation and other infrastructure.
Brian Heywood is a conservative hedge fund manager who in 2022 founded the political group Let's Go Washington, the driving force behind Initiative 2117. Heywood spoke in support of the ballot measure on Thursday.
In the debate, Heywood said he wants to repeal the Climate Commitment Act because it was "sold under false premises" to state residents, adding that he feels there is not enough government oversight over how the money raised from the carbon auctions is spent.
"The governor came out and said this is going to cost pennies," Heywood said. "It might even save you money. The first premise was, at no cost to the consumer, we can do this magical thing."
Former Democratic state Senator Reuven Carlyle, was the primary sponsor and main author of the 82-page climate law. Carlyle spoke in opposition to Initiative 2117 on Thursday.
In the debate, Carlyle argued that if the initiative passes, it will blow a $5.4 billion hole into the state's transportation budget, adding that the 110 largest greenhouse gas emitters in the state release 25,000 metric tons of pollutants into the atmosphere every year.
"The thing about Initiative 2117 is that it's designed, it says, to lower gas prices," Carlyle said. "The truth is there's not one word, there's not one sentence, there's not one provision of the initiative that actually lowers gas prices at all, in any way. What it does do is it eliminates a cap on pollution."
Heywood called the carbon auction program a "regressive tax" on commuters because the cost gets passed down to the pump, he said, pointing out that studies show driving behaviors are largely inelastic in the wake of gas price changes.
"This is a great way to make money," Heywood said. "I think what we are focusing on is this program is a money-maker. It's fantastic if that's your goal, if the government wants to take money from citizens."
Heywood added that he doesn't think consumers have seen any tangible returns on their quality of life since the program was launched.
Carlyle defended the carbon auction program and said it will take time for consumers to see positive impact from the money it has made because a lot of the funds raised from the auctions are only now just getting disbursed as it's a new program.
The former senator pointed to a peer-reviewed study that came out over the summer that found government emission cap programs are the single most effective climate policy in the world and have reduced greenhouse gas emissions by 15% so far in participating regions.
"It matters for us to show the pathway for provinces around the world like Quebec, and states around the country," Carlyle said. "The states of New York and Maryland are formally examining whether or not to join our efforts in Washington state."
Hampton pointed out that Washington's average gas prices have hovered above the national average, long before the Climate Commitment Act was passed. She asked Heywood how he knows his initiative would result in a meaningful and lasting decrease in prices.
"I'm not claiming it's a lasting," Heywood responded. "What I'm claiming is in the price of gas, in Washington state, right now, for the last two years, it's been anywhere from 26 to 50 cents per gallon. ... Because this has been implemented in other places, they know this, they have almost calculated: the price of gasoline is a penny per gallon per dollar per carbon credit."
Heywood said those numbers correlate with the carbon auction prices in Washington.
Carlyle said there's no data that supports his claim that if passed, Initiative 2117 would lower gas prices in the Evergreen State.
"I would remind us today that the gas price average today is $3.96, and two years ago it was $5.29," Carlyle said. "All I'm saying is that what we know, what is absolutely guaranteed, is that if we eliminate the cap on pollution, that the 100 largest emitters will increase pollution."
Voters have until Nov. 5 to return their ballots via mail or county drop box.
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