Assembly Republicans Vote Against Preventing Teacher Pink Slips

[courtesy of The California Majority Report]

The Assembly Republican Caucus yesterday voted against legislation to close tax loopholes on big oil companies and dedicate $1.2 billion to preventing the layoffs of teachers throughout California.<> <>The legislation, AB 9XXX, called for California to join every other oil-producing state by placing a severance tax on oil produced in California. Some 21 other states, including Texas have the tax. Under the bill, oil companies would be prohibited from passing along the tax to consumers at the pump. The Board of Equalization would be given the authority to monitor and investigate instances where producers or purchasers of oil have attempted to gouge customers.<> <>"Last week, Assembly Republicans sided with yacht owners and this week they’re siding with Big Oil," said Senator Art Torres (Ret.), Chairman of the California Democratic Party. "Clearly, the Assembly Republicans’ values are out of sync with their constituents, particularly when thousands of teachers across the state are receiving pink slips."<> <>The bill also would impose a windfall profits tax on Big Oil companies. The revenue derived from the tax would be used to mitigate teacher layoffs what would result from the Governor's cuts to K-14 education.