State overestimated impact a carbon tax would have on electricity prices

The state overstated by about fourfold the impact that a carbon tax ballot measure would have on the price of electricity in 2020. The mistake has now been corrected. The measure imposes an escalating tax on fossil fuels, including coal and natural gas used to generate electricity, and also includes reductions in the state sales tax and business and occupation tax as well as an up to $1,500 tax credit for some 460,000 low-income families.