What to make of the propositions on California’s June 5 ballot? As ever, the issues span the political spectrum. But two address the environment, one asking voters to shell out billions to improve it and another that could make it more difficult for the state to spend billions on helpful projects. Taken together, these measures would provide money to shore up crumbling levees, give kids more places to play and help clean the air—albeit at a price—and affect how the state spends proceeds of the cap-and-trade system that California uses to reduce greenhouse gases. Let’s unpack.