From San Jose State University’s Daily Spartan:
In the middle of drastic state budget cuts, a proposal to tax oil companies in California to fund higher education has won support with some student and faculty organizations.
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According to the text of the bill, a 9.9 percent tax would be placed on all oil and natural gas extracted in California.
The estimated $1 billion raised will be split among the University of California, California State University and California Community Colleges systems, according to the bill.
At the very least, this is a smart move politically. When politicians try to defend oil companies, their words usually fall on deaf ears.
