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Amendment 58 won’t raise gas prices, report says

In spite of what oil and gas companies are saying, a 'yes' vote on Amendment 58 won't mean higher prices at the gas pump. According to a report issued yesterday by the Bell Policy Center, an economic research organization in Denver, gas prices are not directly determined by severance tax rates. Amendment 58 seeks to eliminate a tax benefit historically handed to the oil and gas industries in Colorado in order to recoup $300 million per year for schools, transportation and natural resource projects.