Newsom Calls Special Session To Consider Windfall Tax On Oil Companies

"Governor says Dec. 5 special session will address "greed and manipulation" that drive high gas prices."

"SACRAMENTO, Calif. — Gov. Gavin Newsom said Friday he would call a special session of the Legislature to consider a windfall profit tax on oil companies in response to the “outrageous and unconscionable” price of gas in California.

The governor told reporters the session would start Dec. 5, far enough away for his administration and lawmakers to prepare for what would likely be a tough fight to impose a new tax even with a Democratic super-majority in the Legislature. It would also take place after the November election, sparing candidates from having to take a difficult vote in the heat of campaign season.

Gas prices have climbed sharply in the last few weeks in California while staying steady or declining elsewhere, resulting in costs per gallon that average about $2.50 higher than in the rest of the country."

Camille von Kaenel, Jeremy B. White, and Lara Korte report for Politico October 7, 2022.


Source: Politico, 10/10/2022