Executives at oil refineries in Washington State are breathing easier now that a proposed hike in the state's hazardous materials tax has failed to make it through the state legislature. The oil folks estimate that the proposed increase would have cost them another $186 million per year.

The tax had been proposed by a conglomeration of environmental groups, cities and counties that wanted to create additional revenues for storm water cleanup projects. Since 1989, the state has levied a hazardous substances tax of .7 percent on crude oil, pesticides, fertilizers and chemicals that can leach into storm water. Even though the tax raised $127 million last year, the fund was raided by the legislature in order to balance the state's budget.

Opponents of the measure labeled it "a general fund bailout masquerading as an environmental cleanup," and said the tax increase would likely be passed onto consumers at the pump and result in layoffs at refineries.

 - The Cunningham Report