(Calif. Assembly) Speaker proposes oil taxes for teachers

[Newsjock]

Source: Sacramento Bee

Assembly Speaker Fabian Núñez has introduced a bill to divert some of the oil industry's profits to protect teachers from layoffs.

Núñez, a Los Angeles Democrat with close ties to education unions, is proposing a two-pronged approach by levying a 6 percent tax on all oil produced within the state, and imposing a 2 percent tax on windfall oil profits.

Together, the taxes would generate an estimated $1.2 billion a year for a cash-strapped state that still faces an $8 billion deficit for the fiscal year starting in July. Under the speaker's bill, ABX 9, oil tax revenues would be dedicated for schoolteachers, who are facing potential layoffs under Gov. Arnold Schwarzenegger's across-the-board budget cuts.

... The bill, which requires a two-thirds vote, is expected to taken up by the Democratic-controlled Assembly this week, but was expected to fail. Assembly Republicans, who killed a governor-led effort to close a tax break for purchasers of yachts, recreational vehicles and planes, have vowed to oppose new taxes.

Read more: http://www.sacbee.com/749/story/777614.html

[sce56]

1. I smell a good proposition for the ballot!

Just 20% tax on windfall profits!

[jamesinca]

2. Now that he is termed out he does something good

He is so bought and paid for by lobbyist that we could not get a decent health care bill in CA. I went to one of his town hall meeting things in Fresno and he said no to universal, single payer health care. Now that he is out of office, he wants to help CA. Thanks for doing the right thing finally Mr. Nunez.

[aquart]

3. Maybe they wouldn't give him his price.

Just a cruel evanescent thought.

[davidinalameda]

4. it will never pass

what they need to do is strip money from the executive branch funding

my local school district is going to lose nearly $5M after Ahnuld's 10% across the board cuts