Here are gasoline price cut proposals that are circulating at the state Capitol:
– An excess profits tax that would be linked to a corresponding cut in the sales tax on gasoline. Attorney General Bill Lockyer said that combination would prevent oil companies from increasing their profits by eating up any savings consumers get from the sales tax cut.
– A bill backed by Assemblyman Tony Strickland, R-Thousand Oaks, that would exempt gasoline from the sales tax, which varies from 7.25 percent to 8.5 percent, depending on the county.
– A measure by Assembly Speaker Antonio Villaraigosa, D-Los Angeles, that would suspend part of the sales tax, 5 percent, this summer when many motorists hit the road for vacations.
Lockyer is also backing three bills that try to hold down prices by promoting competition among gasoline companies and easing short-term fuel shortages. They are:
– A measure by Assemblywoman Carole Migden, D-San Francisco, that would authorize a study on building an oil pipeline from the Gulf Coast.
– A bill by Assemblyman Kevin Shelley, D-San Francisco, that would establish a California gasoline reserve.
– A proposal by Sen. Jackie Speier, D-Daly City, that would limit the ability of oil companies to own and operate their own gas stations.
Eds: The bill numbers are AB1706 by Strickland, AB2098 by Migden; AB2076 by Shelley, SB1846 by Speier and AB43 by Villaraigosa. —