$10 Billion Climate Bond Approved By Voters: Prop 4 Results

CALIFORNIA — The polls in California have closed and voters have decided whether to borrow billions of dollars for climate and environmental programs. The Associated Press called the race Wednesday morning.

With all precincts reporting as of 9:42 a.m. Wednesday, 57.9 percent of voters supported the $10 billion bonds.

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Proposition 4, also called the Safe Drinking Water, Wildfire Prevention, Drought Preparedness, and Clean Air Bond Act of 2024, would issue $10 billion in bonds for various projects.

Real-Time Race Results: Scroll down to view the full statewide results. This information will be updated throughout the night. Be sure to refresh the page for the latest.

A "yes" vote on Prop. 4 would help fund projects for clean air, safe drinking water, wildfire prevention, and protection of natural resources. A "no" vote would not allow the state to borrow funds.

Of the $10 billion in bonds, $3.8 billion would be spent on safe drinking water initiatives, as well as drought and flood protection measures. In addition, $1.5 billion would support wildfire prevention efforts, $1.2 billion would support coastline protection programs, and another $1.2 billion would support land conservation and habitat restoration efforts.

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Other funds would go toward developing energy infrastructure, creating parks and expanding outdoor access, mitigating extreme heat, and supporting farms and agriculture.

If the proposition passes, California taxpayers would have to pay the bond back with interest. A legislative analysis estimated it would cost about $400 million a year for the next 40 years to repay the bond.

Dozens of environmental groups, labor groups, renewable energy companies, social justice organizations and water agencies support the proposition, including Cal Fire firefighters, Clean Water Action, National Wildlife Federation and The Nature Conservancy.

"Prop. 4 is essential to ensure clean drinking water and clean air for California and prevent the worst effects of wildfires, floods and droughts," said Mike Sweeney, executive director of The Nature Conservancy in California. "By supporting Prop. 4, we are investing in a resilient future for our state."

Those against the proposition argue the state should pay for the projects without taking on more debt. The main opponent is Howard Jarvis Taxpayers Association, a nonprofit lobbying and anti-tax policy organization.

"These bonds will be paid by people decades from now that didn't even get to vote for their authorization," the association wrote.

State Sen. Brian Jones, a Republican from San Diego, has also spoken out against the bond measure.

"Before approving more borrowed money, voters deserve to see results from previous investments," Jones said. "Bonds come with long term financial burdens that eventually can cut into essential public services. Gov. Gavin Newsom has already declared a budget emergency due to the state's spending outpacing revenue. California also faces a $56 billion deficit, and the addition of Prop. 4's bond debt would only worsen the situation."

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