NEWS: Alaska House Rejects Weakened Oil Subsidy Reform Bill from the Senate

Juneau – Tonight, the Alaska House of Representatives rejected changes made by the State Senate to a key piece of pending legislation to reform Alaska’s flawed system of subsidizing the oil and gas industry with tax credits. The State Senate significantly weakened House Bill 111, which passed the House last month.

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Note from Rep. Gara: Alert: Senate Turning Fair Share for Oil into Oil Giveaway

Legislative compromise became more distant this past week, as the Senate gutted much of an oil reform bill our bi-partisan Alaska House Majority Coalition passed to get us towards a balanced budget. The bill sought a fair share for our oil. Now, the current Senate amendments make it an oil industry giveaway.

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NEWS: Flawed Oil Tax System Shortchanges Alaska in Favor of Giveaways to Big Oil

JUNEAU – This week, economists with the Alaska Department of Revenue produced a report analyzing how much Alaska generates in oil production taxes after the state pays out subsidies in the form of oil tax credits. The report shows that in the next fiscal year, FY 2018, the state of Alaska is slated to pay out roughly $20 million more in tax credits than it is estimated to receive in production tax payments.

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Note from Rep. Gara: It’s Still Alive? Anchorage Legislative Building Lease Too Expensive, Not Ended Yet

ANCHORAGE – A funny thing happened when I was gone for vacation. At first it looked like legislators would come together and finally agree that we needed to end the overpriced Anchorage Legislative Office Building lease. Then they didn’t.

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NEWS: New Report Questions Wisdom of Large Oil and Gas Tax Credits

ANCHORAGE – A new report from the Alaska Department of Revenue shows a substantial negative effect on the finances of the State of Alaska from large oil and gas tax credits. The report concludes that North Slope oil and gas production tax credits may be an inferior investment for Alaska compared to investing in the Constitutional Budget Reserve Fund. 

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NEWS: GOP Ignoring Oil Tax Credit Spending Cap

ANCHORAGE – Today, the Alaska Independent Democratic Coalition released a memo from the Alaska Department of Revenue showing the Republican-proposed budget spends $600 million more on oil tax credits than provided for under Alaska’s statutory cap on credit payments.

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NEWS: Gara to Oil Companies: Pull False Radio, TV Ads

Anchorage – Today, Representative Les Gara (D, Anchorage) called on four major oil companies to stop misleading Alaska voters. “When you spend over $8 million to dishonor voters by blitzing them with false information, it’s a reflection you have a weak case,” Gara said of the television and radio ads paid for by BP, ExxonMobil, Spanish company Repsol, and ConocoPhillips. Gara wrote each company today to call for them to withdraw their misleading claims.

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