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Here’s how Long Beach’s proposed oil tax will work if voters approve it
Long Beach Oct 15, 2020
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Long Beach voters will decide Nov. 3 whether to raise the tax rate imposed on oil suppliers, which proponents say will raise funding intended to bridge inequalities in the city. Measure US would double the city’s general tax on business licenses for oil production to 30 cents per barrel, with the revenue being pledged to address problems in areas of the city that have lacked community and youth programs and have been hit hard by the impacts of climate change. While it’s a general tax requiring just over 50% approval by voters to become law, the City Council approved a non-binding resolution—it can be overturned by future councils—to support the stated goals of Measure US. An impartial analysis by the city attorney’s office estimates that the tax, if approved, could generate approximately $1.6 million in new revenue for the city’s general fund. The city already has a special tax of 33 cents per barrel that, since 2007, has provided millions of dollars each year for police, fire and other public safety needs. […]
