Rep. Tuck’s July 20th Newsletter: Agreement Reached to End Cash Subsidies to Oil Companies

Rep. Tuck Newsletter

This past weekend the House and Senate formed a compromise on HB 111 to eliminate cash credits to oil companies. The House passed the bill by a vote of 33-6 and Senate passed it 18-0. After weeks of negotiating, the bill is estimated to save the state about $200 million per year over the next 10 years. With some limitations, companies can instead claim tax deductions after they start producing oil, which makes a lot more sense than handing money over with no way to tell if it is resulting in increased production.

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Rep. Tuck’s May 30th Newsletter: Statewide Fiscal Survey

Rep. Tuck Newsletter

In January, the Senate Majority polled Alaskans on a variety of topics relating to Alaska’s budget situation. The results showed Alaskans favor a comprehensive fiscal plan that includes reducing tax credits for the oil and gas industry, a broad-based tax, and continuing to fully fund K12 education.

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