On Monday Rep. Les Gara will present to an audience that hasn’t heard the other side of the story on Governor Parnell’s oil tax bill: That it gives away billions, with no tangible benefit to Alaskans. The presentation at the Chamber’s Make it Monday forum will be at noon at the Dena’ina Convention Center in Anchorage.
“Last time we lowered taxes on oil companies, we had declining production, companies took their profits out of state, and we had 40% less investment and 40% percent fewer jobs. The Governor’s plan is more of the same corporate welfare. Rather than tell companies they can take his $1.8 billion in tax reductions out of state, which his plan allows, we should allow tax credits only if companies spend in Alaska on new exploration and new production,” said Gara, whose HB 231 includes those provisions.