Chevron Tries to Bankrupt Richmond

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Chevron is sponsoring a ballot measure that would slash the City of Richmond’s tax revenues by more than $8 million annually, and could bring the city to the brink of bankruptcy, the CoCo Times reports. The oil giant is sponsoring the measure, which would lower business and residential tax rates across the board, as pay back for a city-sponsored initiative that would raise Chevron’s tax bill.

Ever since voters voted out Chevron friendly politicians in 2008, the council has tried to get the oil company to pay for the pollution damage it has caused over the years. But Chevron has fought those attempts vigorously and is now appealing to residents’ distaste for taxes to fight back even harder.

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