What is The California Modernization and Economic Development Act?
CMED is a proposal for CA drafted by and for students and young Californians. It would enact a 2 to 8% sliding scale tax on oil and natural gas extracted from California and use the revenue for investments in education and clean-energy affordability.
$0 (from us) + 8% (from Big Oil) =
$1,000,000,000+ in revenue to invest in our future, every year
reducing class sizes
increasing access to colleges and universities
increasing the quality of schools across California
investing in greener businesses and more jobs
helping families live sustainably
rolling back the gas tax
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Big Oil pumps over 200 million barrels of oil and 240 million MCF of natural gas out of California’s lands and oceans every year without ever paying their fair share for either. Alaska charges between 25-50%, North Dakota 11.5% and even Texas charges 7.5%!
In fact, California is the only major oil-producing state in the nation that gives oil companies a free ride.
Students and allies, our future is being compromised by the lack of adequate funding for K-12, community colleges, and universities across California. We cannot afford this reckless giveaway.
It's time to stop giving away California’s resources and invest in what California needs.
Big Oil lobbyists have defeated every effort in the Legislature in order to protect their $158 billion dollars in annual profits. It's time they pay their fair share for the oil and gas they extract from our state to sell on the global market.
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