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Assembly Democrats have
come up with an unusual way to avoid laying off thousands of California
teachers: Tax oil companies. Assembly Speaker Fabian
Núñez, D-Los Angeles, is pushing legislation that would
impose a 6% tax on oil drilling, in addition to a 2% income tax on oil
income and profits exceeding $10 million....about $1.2 B annually -
would be channeled to public schools...
The idea has little to no chance of becoming law ... because it's a tax
measure needing a two-thirds vote in both houses of the Legislature.
But by framing the state's $8 billion deficit as a choice between
taxing Big Oil or firing school teachers, Democrats hope to put
Republicans on the defensive and persuade the public of the need for
tax increases.
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