- Bearing Drift - https://bearingdrift.com -

Oil Royalties or Tax Hikes?

Which would you prefer?

State Senator Frank Wagner says Virginia could net $200 million a year in new revenues from safe, environmentally sensitive offshore drilling. Imagine what that could do to alleviate our transportation infrastructure challenges – without raising taxes.

Wagner introduced legislation establishing the Virginia Offshore Energy Revenue Fund during this year’s special transportation. He joined BD for a podcast [1]earlier this year. With the Senate under Democrat control, his bill never even made it out of committee.

Could it be that, whether you are in Washington or Richmond, the liberal Democrats just like raising taxes? Nah! After all, remember the one thing House and Senate Democrats could agree on about energy? Yes, that’s right – they agreed on $85 Billion in new taxes – taxes which would be passed on to you and me.