Monday, January 30, 2006
"Windfall" Profit Penalty Killed on Assembly Floor
AB 673 (Klehs), an attempt to punish California’s oil producers, failed today on the Assembly Floor. The final vote is yet to be determined because the bill is currently “on call.” But, given the lack of “aye” votes on the first ballot and the fact that this tax increase requires a 2/3 vote of the Assembly, it is safe to declare that this bad idea is dead… for now.
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Update: AB 673 failed 28-43; that means 11 Democrats joined Republicans in repudiatig this bad idea (and election year stunt).
Yes we should definately "get" those bad bad profiteers for making money...after all they need to build new refineries in the wake of all the hurricane damage and find new places to drill oil, but who cares about research and development costs, we want our money NOW!!!
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