Chelsea Harvey at the Washington Post's Energy and Environment section has a great overview of SB 775, a proposal to extend and modify California's cap-and-trade program.
“The state and the federal government were until recently working hand in hand on these issues,” said Danny Cullenward, an energy economist, lawyer and research associate with environmental research organization Near Zero, who helped advise the development of the new proposal. “In an era of the Trump administration, carbon pricing is one of the few tools that the state has … whatever the federal government does.”