A group of Australian mayors and councillors are calling on the federal government to collect an extra $10 billion each year from petroleum companies to pushback against climate change.
The 37 leaders who signed the letter include independent mayors and councillors, and a large number of Greens local government leaders.
The mayors want to see reforms to the Petroleum Resources Rent Tax (PPRT) to raise an extra $10 billion each year to help local governments fund climate mitigation schemes.
This comes amid a Senate Inquiry into the Treasury Laws Amendment (Tax Accountability and Fairness) Bill 2023.
Under the proposed legislation, the government could limit the taxable income that can be offset by deductions to 90 percent....
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