Gov. Gavin Newsom said he plans to call a special legislative session to push for a tax on oil industry profits. He would convene the special session on Dec. 5, the same day a new class of lawmakers will be sworn in.
Gov. Gavin Newsom tells reporters he's calling a special legislative session on an oil windfall profits tax to fund rebates in Sacramento on Oct. 7, 2022. Photo by Rahul Lal, CalMattersGov. Gavin Newsom called a special legislative session on rebates to offset high gas prices funded by a windfall profits tax on oil companies. The session will be Dec. 5, timed with the swearing-in of the new Legislature.
Newsom said today that he would convene the special session on Dec. 5, the same day that a new class of lawmakers is sworn in. The work will take place on a separate track from the regular session to focus attention on what Newsom said has become one of the most urgent priorities for Californians: an “inexplicable” gap between gas prices in California and the national average that has grown to a record $2.50 a gallon.
Gas prices in California have soared in recent weeks to an average of $6.39 per gallon, as of Friday,Analysts have blamedat several refineries in California, constricting the supply of a special blend of gasoline mandated by the state to reduce pollution.
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