Report: California should have flexibility to spend funds

By Scott Smith, Associated Press.

FRESNO, Calif. (AP) - California lawmakers should have more flexibility to spend billions of dollars collected through the state’s landmark cap-and-trade system designed to combat climate change, analysists recommended Thursday.

The nonpartisan Legislative Analyst’s Office reported the state can reach its goals for cutting greenhouse gases without spending all of the money raised from the cap-and-trade program. The law requires the state to spend the money on reducing greenhouse gas emission, but the restrictions have created a backlog of unspent money.