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Getty ImagesVoters have passed Proposition 4 – a $10 billion climate bond measure – in California Wednesday morning.
This proposition will authorize $10 billion in bonds to pay for wildfire prevention, safe drinking water and protection against the effects of climate change. A minimum of 40% of the funds would be spent to benefit communities that are considered to be the most harmed by climate change.
Supporters of Prop. 4 said it will safe drinking water, wildfire prevention, clean air, and protection of natural resources. They also said California firefighters, conservation groups, clean water advocates are supporting Prop. 4. They also said Prop. 4 is a proactive approach that will save money and prevent the worst impacts of devastating wildfires, smoke, droughts, and pollution.
Opponents of Prop. 4 said bonds are the most expensive way to fund government spending. They said water and wildfire mitigation are necessities, not luxuries and should be budgeted for. Opponents also said the $10 billion climate bond will cost taxpayers almost $2 to repay for every dollar spent due to interest.
The Associated Press declared that Prop. 4 passed the morning after polls closed at 8 p.m. on Tuesday in California.