Gov. Newsom wants to tax gas company profits to help state's residents

But some experts are questioning whether such a tax is that truly the long term answer to keep gas prices from spiking in the future.

"This has been tried a few times, and one thing we learned is it's very difficult to design a windfall profit tax that only hits the windfall profits and doesn't discourage the production of the product," said Severin Borenstein with UC Berkeley's Energy Institute at Haas. "What happened earlier this year was a crude oil price increase. There's nothing we can do about that. That market is not in California. That's a world market," he explained."It's hard working a minimum wage job or a job where you don't get paid that much and you're spending your whole paycheck on rent and gas," said Lalita Bock.

That in no way lowers gas prices. How do people support this clown.

Maybe just maybe the gov GavinNewsom should suspend the gas tax?

Tax tax tax tax tax tax tax. More government more government more government and more government. How long till they tax air? It’s coming. Democrats love big government and taxes.

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California Might Levy A New Tax On Gas Companies. Here’s What To KnowHere are the basics of the new windfall profit tax Gov. Gavin Newsom proposed, and how similar taxes have worked in the past.
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