The Superfund is a fiscally sound mechanism for upgrading our statewide infrastructure in the face of urgent climate challenges, and FPI commends the governor and legislature for successfully working together to enact it.
Last month, both the Senate and Assembly of the New York State legislature passed the Climate Change Superfund Act (S.02129). The Act, first introduced during the FY 2022 budget cycle, would require the largest fossil fuel companies to pay a total of $75 billion — to be paid over 25 years in $3 billion annual increments — to New York State.
