Oil Tax for Higher Ed Initiative
As we have noted many times, it is very hard to get an initiative on the ballot without hiring signature-gathering firms (which will cost $1-$2 million). And if the initiative gets on the ballot, millions more will be needed for TV ads, etc., if there is opposition. An oil severance tax to fund higher ed would clearly have such opposition – from the oil industry. All that said, there is such an effort underway (as noted in prior posts): …Conceived by UC-Berkeley students, the California Modernization and Economic Development Act places a 9.5 percent tax on oil and gas extracted…
