Its time to go back to the drawing board for state lawmakers, who still haven’t passed a plan to save our states education. For a Democratic proposal to raise taxes on oil companies was shot down by Republicans in the Assembly yesterday. Under the proposed tax oil companies would have been taxed an additional 6% on all oil extracted in
This plan to help fund our education was fiercely fought by state Republicans who don’t want to raise any taxes to help solve
Republican Assemblymember Chuck DeVore (R) from Irvine responded by saying "Its bad tax policy, because we already have the highest oil tax or gas tax in the country, our consumers are already paying the most."
However several news agencies have pointed out that this tax on oil companies would not have been passed on the consumer since the bill was written specifically to block such a thing from happening. Also oil companies continue to report record profits, so it’s not like this tax would have hurt the industry. Exxon Mobil reported the largest annual profit by a
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