California’s Newsom Fights With Big Oil, Urging Profit Tax (1)

California Governor Gavin Newsom is calling for the Democratic-controlled state legislature to consider his proposal for a windfall tax on oil companies as gas prices in the state stay high.

Newsom on Friday said that he would call for a special session for the state legislature to consider his proposal for the levy. He says revenue stemming from the proposed windfall tax would go directly back to California taxpayers through refunds or rebates as a way to alleviate the burden of higher costs.

“I’m calling for a Special Session to address the greed of oil companies,” he said in a ...