A collection of U.S. northeastern states already have a regional cap-and-trade program for major power plants. Now, the region is pursuing a similar approach for transportation, an ambitious and challenging endeavor, but one that is an outgrowth of frustration with inaction at the federal level. The aim of the Transportation and Climate Initiative, as the program is called, would be to reduce greenhouse gas emissions (GHG) from cars and trucks while structuring the program in such a way that it leads to net economic and social benefits. In essence, emissions would be capped and a carbon market would allow the buying and selling of permits. How the proceeds would be used has not yet been decided, but likely would be reinvested into any number of programs, including “public transit, transit-oriented development, zero-emission vehicles, innovative efficiency strategies, and other solutions that move people and goods more efficiently while generating less […]