Danny Cullenward @ghgpolicy.org · Jan 7 Specifically, the definition of a "qualified" state under the final 45V rules is based on a set of criteria about the features of a state's cap-and-trade program. The definition requires a price ceiling of at least $90 USD per tCO2e (2025 USD). California has that today, but only through 2030.
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Extending the program through 2030 likely requires a 2/3 supermajority vote (see chapter 4 in IEMAC 2022), which is a big deal. Policymakers concerned with price impacts might want to set a lower price ceiling or a more gradual path from today's prices (mid-$30s) to the ceiling (about $90).