Powerful labor coalition opposes PG&E bonds proposal

08.30.19

Politico

A tax revenue-focused coalition of powerful unions is opposing a plan that would help Pacific Gas & Electric borrow billions to pay wildfire victims and exit bankruptcy.

The California Tax Reform Association wrote a letter today to Assembly Speaker Anthony Rendon and Senate President pro Tempore Toni Atkins objecting to proposed changes to CA AB235 (19R), which has yet to be gutted and amended to create $20 billion in state bonds and other financial instruments for utilities.

The association took issue with how AB 235 would “grant PG&E, a for-profit company, tax-exempt bonding authority to pay for its own past malfeasance.”

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