California Assembly Bill 656 will help reverse the skyrocketing fees and tuition at our UC, CSU and community college campuses. While California is struggling with record deficits and education funding is being gutted, big oil is enjoying historic profits. But California is the only major oil producing state in the country that doesn't charge big oil their fair share. Alaska imposes a 25% oil severance fee and Texas raises up to $400 million annually through a similar fee.
It's time to make the oil and gas industry pay their fair share to help save our colleges and universities.
Sign the petition to add your name to the list of supporters that California State Assemblyman Alberto Torrico will present on the floor.
Photo credit: mikebaird
At the rate we are going, it's predicted that California will soon be spending more money on prisons in one year than we will spend on higher education in two.
Taxing oil production in California and dedicating those funds to higher education would provide up to $2 billion annually for California colleges and universities.
Assembly Bill 656, authored by Assembly Majority Leader Alberto Torrico, would create a new California Higher Education Fund using an oil severance tax on oil companies drilling in California. AB 656 would raise up to $2 billion for the UC, CSU and community colleges with a 12.5% percent tax on oil extracted within California.