Dear Friends and Neighbors,
PUBLIC TESTIMONY TODAY
I apologize for the short notice. There were issues with the mailing server that have now been resolved.
This week the House Finance Committee will be hearing public testimony on:
HB 115: Income Tax, Permanent Fund Dividend Credit, Permanent Fund Income
This bill combines Permanent Fund restructuring and a progressive income tax. HB115 proposes a PFD of $1250 instead of the Senate’s $1000. The income tax is progressive, protecting those in lower income bracakets. It will also raise roughly $700 million and be one of the lowest income taxes in the country.
A couple with no children would have the first $28,600 of their income, plus all Permanent Fund Dividends exempt from taxation. A couple making above $28,600 and up to $100,000 would be taxed at 2.5%. The top rate will be capped at 7% for any income above $500,000.
HB 115 in combination with cuts, and the much needed restructuring of oil tax and credits will lead Alaska to a stable fiscal future.
I urge you to call in or email with your thoughts, ideas, or concerns:
Wednesday, March 29, 2017
1:30 pm- 4:30 pm and 5:30 pm- 8:30 pm
PHONE CALL: Testimony is limited to two minutes.
Arrive at the Fairbanks Legislative Information Office 15 minutes before the end of the allotted time period for testimony.
LIO Address: 1292 Saddler Way, Fairbanks, AK
(next to Home Depot)
If you do not have access, call the Fairbanks LIO at (907) 452-4448 to join a live teleconference. Hang up immediately after testifying to keep lines open.
If you are a member of a group with the same message, in the interest of time, please select a spokesperson to testify for the entire group.
WRITE: Send written testimony to the House Finance Committee at firstname.lastname@example.org.
IN-PERSON: Try to arrive 15 minutes early to the committee room. Sign in, and wait to be called.