Oil Severance Tax Article
An article in the California Aggie about proposed legislation to begin taxing oil extraction to create funds for public higher education quotes DFA member Joe Kiskis. The full article is at http://theaggie.org/article/2009/11/16/oil-severance-tax-aims-to-support-higher-education and here is an excerpt:
AB 656 proposes a 9.9 percent oil severance tax for California oil drilling and natural gas companies. It is estimated that the tax would allocate $1 billion for UCs, CSUs and community colleges. The Council of UC Faculty Associations expressed its support for this bill in April… “The new funds would replace some of the lost state support and would therefore reduce the pressure for further fee increases and cuts to educational quality. However, this bill would fall short of generating enough additional money to restore a healthy level of university funding,” Kiskis said in an e-mail interview.
This entry was posted on Monday, November 16th, 2009 at 11:55 pm and is filed under Financing Higher Ed, State Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.