Washington residents in Tuesday’s election preserved a state program that charges companies for their carbon emissions.
Ballot Initiative 2117, which sought to overturn parts of the state law that authorized Washington’s cap-and-invest program, drew only about 38% of the vote, according to incomplete and unofficial returns.
The vote marks a defeat for hedge fund manager Brian Heywood and his ballot committee, Let’s Go Washington. The committee spent $8.7 million to propel the initiative, while the opponents spent around $34 million, according to the state Public Disclosure Commission.
The cap-and-invest program, which aspires to cut carbon emissions by 95% by ...