New York’s Superfund Bill

Last year, New York lawmakers passed a state bill designed to hold “fossil fuel companies responsible for impacts of pollution on New York communities,” a law that Governor Hochul gave final approval to this March. Despite rhetoric from advocates, the law is almost certainly unconstitutional and will end up being overturned, and the windfall of “free funds” will never materialize.

The Climate Change Superfund Act, which is designed to generate $75 billion over the next 25 years, targets energy companies for their lawful conduct over the past several decades, and unfairly penalizes them contributing to greenhouse-gas emissions without regard to their essential role in supporting New York’s economy.

KP

About the Author

Ken Pokalsky

Ken Pokalsky is the Vice President of Government Affairs at the Business Council of New York State Inc.

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Last year, New York lawmakers passed a state bill designed to hold “fossil fuel companies responsible for impacts of pollution on New York communities,” a law that Governor Hochul gave final approval to this March. Despite rhetoric from advocates, the law is almost certainly unconstitutional and will end up being overturned, and the windfall of “free funds” will never materialize.

The Climate Change Superfund Act, which is designed to generate $75 billion over the next 25 years, targets energy companies for their lawful conduct over the past several decades, and unfairly penalizes them contributing to greenhouse-gas emissions without regard to their essential role in supporting New York’s economy.