WSPA Statement on Governor Newsom’s Windfall Profit Tax Pivot

“We have not seen any details and are not aware of any ‘deal’ with legislators.  However, It sounds like the Governor wants to create a new state agency and empower unelected bureaucrats to impose more taxes and increase costs. At the end of the day, this proposal does not solve California’s gasoline supply problem and will likely lead to the very same unintended consequences legislators have reiterated to the Governor:  less investment, less supply, and higher costs for Californians.

“This is simply just another tax wrapped in unchecked and expensive bureaucracy.

“WSPA continues to support and welcomes a policy debate around transparency, but strict confidentiality between the industry and regulators must be maintained to ensure sensitive information is not used to harm California consumers.”

Related News & Resources