Assemblyman seeks support for Bill 656 : The Collegian Online:
"The majority leader of the California State Assembly spoke Wednesday in a meeting open to the public at California State University, Fresno.
Assemblyman Alberto Torrico, D-Fremont, is the author of the recently debated Assembly Bill 656. He is making the rounds to colleges in California to drum up support for his bill. Fresno State is the 10th college campus he has visited in the past two weeks.
Torrico said he wants to gather 100,000 signatures to take to Sacramento to show support for the bill."
Assembly Bill 656 would tax oil companies that extract oil from the state. Torrico said that the bill would specifically prohibit oil companies from passing that cost onto consumers.
“Not only does it prohibit it in the bill, the bill sets up a commission,” Torrico said. “For the first time in California, we’re going to oversee the ongoing operations of oil companies.”
Torrico said California is an anomaly among oil-producing states. He said that a similar bill in Texas raises $400 million per year that funds higher education. He also said that Alaska has a 25 percent tax on companies that extract oil from the state.
"The majority leader of the California State Assembly spoke Wednesday in a meeting open to the public at California State University, Fresno.
Assemblyman Alberto Torrico, D-Fremont, is the author of the recently debated Assembly Bill 656. He is making the rounds to colleges in California to drum up support for his bill. Fresno State is the 10th college campus he has visited in the past two weeks.
Torrico said he wants to gather 100,000 signatures to take to Sacramento to show support for the bill."
Assembly Bill 656 would tax oil companies that extract oil from the state. Torrico said that the bill would specifically prohibit oil companies from passing that cost onto consumers.
“Not only does it prohibit it in the bill, the bill sets up a commission,” Torrico said. “For the first time in California, we’re going to oversee the ongoing operations of oil companies.”
Torrico said California is an anomaly among oil-producing states. He said that a similar bill in Texas raises $400 million per year that funds higher education. He also said that Alaska has a 25 percent tax on companies that extract oil from the state.