Big oil was instrumental in crafting a California tax policy that now costs billions in revenue, report reveals
As California faces another deficit, advocates urge lawmakers to end fossil fuel subsidies
SACRAMENTO — Global oil majors played a pivotal role in orchestrating a multibillion-dollar tax dodge that shields corporate profits from California taxes, according to new, in-depth historical research and analysis by The Climate Center. The Water’s Edge tax election, established in the state in 1986 after a decade-long fight, enables multinational corporations to avoid taxes … Read more