California Briefs: Governor Aims To Put Oil Profits Back in Californians’ Pockets and State Empowers Students

Gov. Newsom Calls for a Windfall Tax to Put Record Oil Profits Back in Californians’ Pockets

SACRAMENTO — As Californians see renewed spikes in gas prices, Gov. Gavin Newsom Sept. 30 called for a windfall tax on oil companies that would go directly back to California taxpayers.

Returning Oil Industry Profits to Californians

Crude oil prices are dropping, but oil and gas companies are still raising prices on California consumers. These price hikes cannot be attributed solely to refinery maintenance issues, hurricane disruptions, or even state taxes. Governor Newsom is working with the Legislature to enact a new windfall profits tax on oil companies. Companies engaged in extraction, production, and refining of oil will pay a higher tax rate on their earnings above a set amount each year, and these recouped windfall profits will then be directed to rebates/refunds to California taxpayers impacted by high gas prices.

Increasing Gasoline Supply

Earlier today, Governor Newsom directed the California Air Resources Board (CARB) to take immediate action to increase the state’s gasoline supply and bring down fuel prices by allowing oil refineries to make an early transition to winter-blend gasoline. When this action was taken in 2012, California gas prices declined by $0.25/gallon within 13 days, and $0.47/gallon after 20 days. CARB has issued an advisory allowing refineries to immediately begin distributing winter-blend gasoline. 

California Empowers Students

SACRAMENTO — Gov. Gavin Newsom Sept. 30 signed legislation empowering students to be more active in their education and community. Gov. Newsom also signed legislation increasing services and advancing equity throughout California’s public schools.

The Governor signed SB 997, SB 955, and SB 291 empowering students in California by:

• Providing a seat at the table in local accountability plan processes.
• Allowing an excused absence from school to engage in civic opportunities in their communities.
• Adding two pupils with exceptional needs to the Advisory Commission on Special Education.

Gov. Newsom also signed AB 2806 by Assemblymember Blanca Rubio (D-Baldwin Park) ensuring equitable treatment of children in state preschool and child care programs by prohibiting suspensions and expulsions except as a last resort. When a child is suspended or expelled, they do not receive the benefits that early learning and education provides and this disportionately impacts toddlers and preschoolers of color. AB 2806 aims to change this and support California’s youngest learners.   

Additionally, the Governor signed SB 1047 by Senator Monique Limόn (D-Santa Barbara) increasing access and stability for families to get the care and learning opportunities their kids need and are critical for young children to succeed.