LEGISLATIVE LEADERS ADDRESS NEW PLANS TO LOWER GAS PRICES FOR CALIFORNIA DRIVERS

Source: Toni Atkins, President Pro Tem, California State Senate

October 1, 2022 (San Diego) – State Senate President pro Tempore Toni G. Atkins (D-San Diego) and Assembly Speaker Anthony Rendon (D-Lakewood) released the following statement following Governor Newsom’s proposal to implement a windfall profits tax and his announcement directing the California Air Resources Board to immediately take steps necessary to allow early transition to winter-blend gasoline:

“Californians are still being gouged by oil companies’ indefensible nonstop price increases. The Legislature and the Governor took action to provide rebates, which should be arriving soon, and now we are helping lower prices immediately by ending the state’s summer gasoline blend program a month early. We are also going to work with the members of our respective caucuses to take a hard look at any proposal to go after windfall profits that oil companies are raking in by bilking consumers. In fact, we'll look at every option to end the oil industry profiteering off the backs of hard working Californians. 

By tackling this problem on multiple fronts, we are confident we can help Californians in the short term and in the long term.

A windfall profits tax that takes excessive profits out of the hands of Wall Street and puts money into the hands of consumers deserves strong consideration by the Legislature. We look forward to reviewing the details of the Governor’s proposal.

Furthermore, we support efforts to demand an explanation of soaring prices and to help drivers now, with an early switch to a cheaper blend of fuel. California’s summer blend gasoline has been responsible for a major decrease in smog and other pollution. Ending the summer blend period early to help reduce prices should be done only very thoughtfully, and both Governors Brown and now Newsom have done so.

We know this is something Californians want action on, and we are acting.”