Anchorage – The Alaska House Majority Coalition has communicated a proposed compromise to the Alaska Senate Majority to address oil tax credit reform, which is the subject of the ongoing Second Special Session of the 30th Alaska State Legislature. Coalition members support changes to House Bill 111 to end the practice of paying oil companies cash subsidies for certain tax credits. This is expected to save the State of Alaska an estimated $1.5 billion over the next ten years.
Tag: payouts
NEWS: Flaws in Alaska’s Oil Tax Regime are Bigger Than Paying Cash for Tax Credits
Juneau – Earlier today, the leadership of the Alaska Senate Majority reversed course and called for action during the Second Special Session on legislation to fix Alaska’s flawed system of subsidizing the oil and gas industry on the North Slope through overly-generous tax credits. The Alaska House Majority Coalition welcomes a renewed focus on this important issue.