The Board of Directors of the Santa Clarita Valley Chamber of Commerce voted to oppose Prop 87, the Oil Tax Initiative on the November 2006 Ballot.
Here’s the Chamber’s official position:
Prop 87, the Oil Tax Initiative would be a new tax imposed on the California oil production industry. This new $4 Billion tax would create a new statewide bureaucracy that would include 50 new political appointees with the power to hire unlimited staff and spend unlimited amounts of tax dollars outside the state budget review process. The initiative would exempt the new agency from abiding by the state competitive bidding process. The initiative does not create a mechanism to measure success-even if traditional oil usage does not decrease as a result of this initiative, the tax will continue to be imposed and collected.