Prop. 87 is an economy-killer

There’s no question that we need to advance energy alternatives, but Proposition 87 is not the way to get there. Local chambers of commerce and community business groups, the state’s largest and most influential business leaders, California’s taxpayers, consumers, and business and even law-enforcement groups are opposed to Prop. 87 on the November ballot.

These business and community leaders understand that the last thing the California economy needs now is a boost in already high fuel prices. The tax would lead to higher oil-production taxes that would increase the price of gasoline, diesel and jet fuel. It also would make us more dependent on foreign oil.

Prop. 87 also would establish a new bureaucracy run by more than 50 political appointees. They would have the power to hire unlimited staff and spend a minimum of $4 billion in tax dollars. Even worse, this new bureaucracy would not be accountable to anyone and would exist outside of the state’s normal budget process with no checks or balances.

Because this is a tax on production of oil and not a tax on profits, it would reduce property-tax revenues and general-fund revenues, which would force additional new tax increases or budget cuts to such vital local services as education, law enforcement and health care.

Business leaders know a strong economy relies on an educated workforce, but this measure, according to the state’s independent legislative analyst, actually will result in fewer dollars to improve schools. Prop. 87 even goes around the Proposition 98 requirement that a portion of any new state revenues be spent in K-12 classrooms, exempting itself from Prop. 98 provisions.

The oil tax is a recipe for waste, not progress. Visit www.noon87.com for more information.