Signatures must be returned this month the ensure that Proposition 1481 makes it to the ballot in California. The Proposition is designed to impose an excise tax on California’s oil companies to generate revenue for education. Estimated revenues would be somewhere in the realm of $2-3 billion. (California is the only major oil producing state that doesn’t impose such a tax.)
Written into the legislation is a guarantee that the oil companies can not pass the cost of the tax on to the consumer.
If you haven’t signed, please do. If you’d like to help collect signatures, let us know. We’re in the final hours of this movement.
