Oil Companies Spend Big to Fight Colorado Severance Tax
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The Examiner: State voters this November may face a ballot measure that would raise the state tax on oil, gas and other mineral extraction, devoting most of the additional revenue to scholarships for students who attend state colleges and universities. Gov. Bill Ritter is pushing the idea. Petitions for the measure were turned in last Monday, and signatures still have to be verified before the plan can go on the ballot. Energy companies do not like the idea, and an opposition group named Coloradans for a Stable Economy is building a big war chest to fight the Ritter plan, presumably with a barrage of TV ads later this fall. Some pundits are predicting $30 million in spending against the measure. And who's bankrolling the group, which so far has raised $6.6 million?
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