State Assembly Rejects Oil Tax
After a heated debate the State Assembly rejected a measure Wednesday night that would have taxed oil produced in California.
Thursday, March 13, 2008
Democrats praised the bill as a way to help fund education and avoid cuts brought on by the budget deficit. Democratic Assemblyman Charles Calderon called it a clear choice:
“Whether or not we want a California that offers quality education for our children or whether or not we want a California that allows a free ride for oil companies.”
Democrats say the bill would have brought in just over one billion dollars a year. But Republican Assemblyman Anthony Adams said the tax would increase gas prices:
"So much talk about big oil. The only thing big is the ego on the Democrat who thinks raising the price at the pump is good for California.”
Republicans have pledged to reject all new tax increases. But the Democratic Assembly Speaker says they’ll keep trying to push for new revenue sources to help balance the budget.