Chevron Tries to Bankrupt Richmond

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.

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