NEWS: Dept. of Revenue Reveals True Losses to Alaskans from Oil Giveaway
Short-term spikes in oil price could be “double-whammy” to Alaskans
JUNEAU – In a letter released yesterday, the Department of Revenue released the first analysis of the potential losses to the state at high oil prices should the current oil tax giveaway proposal become law. At oil prices of $120 annual losses to the state would be around $1.6 billion and over $3 billion at prices over $150 per barrel. With this great a discrepancy between returns from the current system and the latest proposal, even short-term price increases could result in significant unrealized returns for Alaska.
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Rep. Tuck’s Community Connection: Record Industry Profits, Strong State Savings - Tomorrow is the Time to Speak Out
Dear Neighbors,
This is the first in a series of newsletters about Senate Bill 21, the major re-write of Alaska’s oil tax system that is being hurried through the legislature in the last days of session. As it stands now, the proposal is a massive and ill-conceived giveaway of Alaska’s oil wealth with no clear connection to increasing oil production.
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Rep. Guttenberg’s Legislative Report: Last Chance to Testify on Oil Taxes
Thank you to everyone that has called, written, or sent an e-mail to my office. It is very important to hear from you.
As we rapidly reach the end of session, we often receive lots of communication about budget items, bills, and other issues – sometimes orchestrated by one interest group or another. As I’ve said in the past, I don’t work for corporations. I don’t work for a political party. I work for YOU. I want to hear from constituents, not put-up campaigns. If you’re a District 38 resident, I want to hear from you!
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Note from Rep. Gara: Tuesday Oil Testimony, A Billion or Two in Knik Bridge Liability and, Yes, Foster Care Bill
Dear Neighbors,
I’m sorry for not bugging you with one of these newsletters in a while – work has been crazy, and I’ve been battling to fix what I think is the worst piece of legislation this state has seen in a long time – an oil tax bill that will create fiscal cliff, cause $2 billion per year in annual deficits, and result in a loss of jobs through ripple effects across the state. The bill, at $120 a barrel, gives away roughly $1.5 - $2 billion in state revenue per year.
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NEWS: Release the Hidden Oil Consultant Reports
Rep. Gara calls on Parnell administration to stop withholding oil information
JUNEAU – Today, Representative Les Gara (D-Anchorage) called on Governor Parnell to release reports on oil taxes done by two internationally recognized oil tax consultants over the last three years before the Legislature votes on current oil tax legislation. Last week, the Department of Revenue stated it would extend the response date to Rep. Gara’s requests from April 10, 2013 to April 24, 2013, ten days after the end of the regular legislative session.
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