NEWS: No Progress and No Communication on Linchpin to a Comprehensive Fiscal Plan
Juneau – The members of the Alaska Independent Democratic Coalition (AIDC) have consistently insisted that any plan to address Alaska’s ongoing fiscal crisis be comprehensive in nature and include reform to our flawed oil and gas subsidy system that is costing the state hundreds of millions of dollars. House Bill 247 remains the linchpin to a successful fiscal plan, yet the Conference Committee has not met during the 4th Special Session of the 29th Alaska Legislature. House Resources Committee member Representative Geran Tarr (D-Anchorage) represents the AIDC on the Conference Committee and is the only member of the conference committee that originally voted yes on the compromise House bill that passed with bipartisan support.
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NEWS: Alaska House Passes Legislation to Roll-Back Many Unsustainable Oil Industry Subsidies
Juneau – Today, the Alaska House of Representatives approved House Bill 247 to significantly reform Alaska’s unsustainable oil tax credit subsidy system. The members of the Alaska Independent Democratic Coalition (AIDC) cautiously supported the legislation after participating in a bipartisan effort to amend the bill to dramatically increase savings and fix flaws included in previous versions of the bill.
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Rep. Josephson’s Newsletter: Legislative Update: Anchorage LIO & HB247
The end of the 90-day session is quickly approaching. Conference committees were appointed by both the House and the Senate earlier this week so we are now in the 24-hour rule. If you are not sure what the 24-hour rule entails here is a short video explaining the rule by journalist Jeremy Hsieh.
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NEWS: House Finance Committee Bypasses Budget Savings and New Revenue by Continuing Unsustainable Subsidies for the Oil and Gas Industry
Juneau – Tonight, the House Finance Committee passed out House Bill 247 sponsored by Alaska Governor Bill Walker. The version of the bill approved by the committee is substantially different than the version of the bill put forward by Governor Walker. The new version of the bill includes less than half of the savings anticipated in the original bill.
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Rep. Josephson’s Newsletter: House Bill 247 (Oil and Gas Tax Credits)
In the wake of extremely low oil prices (about $30 per barrel on the West Coast) and leveling off of production on the Alaska North Slope, the state has seen a sharp reduction in revenues from oil and gas combined with a drastic increase of tax credits to the industry.
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