NEWS: Compromise Achieved to Reform Alaska’s Unsustainable Oil Tax Credit System

Juneau – Tonight, the Alaska Legislature passed a compromise version of legislation to reform Alaska’s system of subsidizing the oil industry on the North Slope with tax credits. House Bill 111 ends Alaska’s unique cash for tax credits system and strengthens the four percent minimum tax to ensure Alaska receives some production tax revenue in times of low oil prices. Tonight’s compromise was brokered by House Resources Committee Co-chair Representative Geran Tarr (D-Anchorage), who served as the Chair of the HB 111 Conference Committee.

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NEWS: The House is Waiting for Progress in the State Senate

Juneau – The leadership of the Alaska House Majority Coalition has decided to hold a limited number of technical floor sessions for the remainder of the week to allow House members to travel back to their home districts for the Memorial Day Holiday. This will allow members to engage with constituents about the important issues under consideration during the Special Session called by Alaska Governor Bill Walker. Allowing lawmakers to go home also saves the state money since lawmakers will not be collecting per diem in their home districts.

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Rep. Seaton’s April 27th Newsletter: Update: State Reductions & Diversifying Revenue

Hello! Some information came out this week that I wanted to share with you. This past Monday, the Institute of Taxation and Economic Policy released their report: Comparing the Distributional Impact of Revenue Options in Alaska. This report compares the impact of different revenue plans being discussed in Juneau this session. The report finds that most Alaska households would pay less under a personal income tax, like our HB 115 School Tax, than they would under a 3% sales tax even if the sales tax exempted food, child care and rent.

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Rep. Grenn’s April 21st Newsletter: Tough Choices and an Update on Day 95

Today is day 95 of the legislative session. I must admit I’m frustrated the Legislature wasn’t able to come to an agreement in 90 days. In fact, just one year ago, I remember reading the newspaper thinking, “why can’t they get their job done on time?!” Trust me, I respect the will of the voters and have done my best to help move things forward in a timely manner. Click here to read an interview with my thoughts on this issue and more.

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Rep. Josephson’s April 20th Newsletter: Budget and Taxes

Thank you for subscribing to my newsletter and staying involved with the goings-on of our state. It continues to be an honor to represent you in Juneau and to work on your behalf. Much has happened here in the last couple weeks. I hope this update finds you well and helps you stay informed.

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Rep. Wool’s April 20th Newsletter: Alaska State House Working to Solve Alaska’s Fiscal Gap

Day 90 has passed and the Legislature is still in session. I’d prefer that the Legislature get its business done within the voter-mandated 90 days, but the state Constitution allows the Legislature to continue until Day 121. This year we were presented with a huge challenge so it’s no surprise that we are here in Juneau past day 90 and that’s OK. This is a very important time for our state and we need to make the big and difficult decisions before we adjourn. Even though I really want to be back in Fairbanks with my family and looking after my business I also realize the importance of what’s in front of us.

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NEWS: Alaska House Moves to Fix Alaska’s Flawed Oil Tax Credit System

Juneau – The Alaska House of Representatives today passed legislation to reform Alaska’s flawed and unsustainable system of oil and gas subsidies. Without changes, the State of Alaska is projected to pay out more in oil tax credits in Fiscal Year 2018 than the state will take in from production taxes. Production tax revenue used to be Alaska’s leading source of revenue.

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