Publisher’s Note: As part of an ongoing effort to bring original, thoughtful commentary to you here at the FlashReport, I am pleased to present this column from John Kabateck, Executive Director of the California NFIB – Flash]
California has some of the highest taxes. I’m sure you already feel it every time you open your wallet, every time you fill up your gas tank and when you see what’s left of your paycheck after government takes its share.
Once again, there’s a renewed effort at the Capitol to increase your taxes through an oil severance tax. Senate Bill 1017, by Sen. Noreen Evans, would add a 9.5% tax to every barrel of oil extracted in-state, effectively tripling our oil taxes and further cementing California’s status as the most taxed state. All of the oil drilled in California is used here, so any cost increase will only hurt consumers everywhere, particularly small businesses. A severance tax will also hurt production and jobs in California as small companies simply will not be able to compete in the marketplace.
Recently, business groups that include NFIB, taxpayers, and consumers have joined together to form a… Read More