Commentary
Consumers just got a reprieve from Gov. Gavin Newsom’s proposed “windfall profits tax” on the oil companies. The Special Session of the Legislature scheduled for Dec. 5 to address the issue will likely not take action until January. That gives more time for consideration of how it really would be a tax on drivers, natural gas users, and others.
Fortunately, I recently received an analysis via email from Kayla Kitson of the California Budget & Policy Center, “Q&A: What Would a Windfall Profits Tax Mean for California?” She notes Gov. Gavin Newsom, in calling for the Special Session, also called the tax a “price gouging penalty.”…