Resolution supports $50 billion state fund aimed at shifting cleanup costs from taxpayers to energy firms
Brick Township, NJ — Brick Township officials have formally backed a proposed New Jersey law that would require major oil and gas companies to help fund climate-related costs, including storm damage and flooding.
The Township Council approved a resolution on April 14, expressing support for Senate Bill S-3545, known as the “Polluters Pay to Make New Jersey More Affordable Act.”
Proposal targets major energy companies
The legislation seeks to create a $50 billion fund—distributed at $2.5 billion annually over 20 years—to cover expenses tied to extreme weather events and environmental impacts.
Under the proposal, the costs would be assessed against what the bill defines as the world’s largest oil and gas companies, based on their historical emissions.
Township officials said the goal is to shift the financial burden away from taxpayers and onto companies deemed responsible for contributing to climate-related damage.
Supporters say no impact on consumers
The resolution cites findings from economists who say the funding structure would act as a “fixed cost” tied to past emissions and would not lead to higher fuel prices.
It also notes that the bill prohibits the New Jersey Department of Environmental Protection from using the law to impose new regulations or costs on consumers or businesses.
Key Points
• Brick Township supports “Polluters Pay” bill targeting oil companies
• Proposal would create $50 billion fund for climate-related costs
• Officials say measure aims to protect taxpayers from cleanup expenses
Resolution sent to state leaders
As part of the resolution, Brick officials directed the Township Clerk to send copies to Governor Mikie Sherrill, state environmental officials, and legislative leaders, including the bill’s sponsors.
The measure is currently under consideration at the state level.
Ongoing legislative status
The proposed law has not yet been enacted, and its future will depend on action by the New Jersey Legislature and governor.
