Democrats go back to the well for taxes - ContraCostaTimes.com:
"SACRAMENTO — As oil companies continue to reap record profits amid strained state revenues, a pair of Democratic lawmakers are hoping to tap into their deep pockets by installing an oil severance tax that could relieve growing pressures to cut more state services.
Assemblyman Pedro Nava, D-Long Beach, introduced a bill Monday called the Fair Share Act, that would impose a 10 percent oil severance fee on extractions from California wells to bring in $1.5 billion to the state's coffers.
A similar bill that has already cleared one committee, by Assemblyman Alberto Torrico, D-Fremont, would impose a 9.9 percent fee, but would earmark the revenues to higher education funding."
"SACRAMENTO — As oil companies continue to reap record profits amid strained state revenues, a pair of Democratic lawmakers are hoping to tap into their deep pockets by installing an oil severance tax that could relieve growing pressures to cut more state services.
Assemblyman Pedro Nava, D-Long Beach, introduced a bill Monday called the Fair Share Act, that would impose a 10 percent oil severance fee on extractions from California wells to bring in $1.5 billion to the state's coffers.
A similar bill that has already cleared one committee, by Assemblyman Alberto Torrico, D-Fremont, would impose a 9.9 percent fee, but would earmark the revenues to higher education funding."
