Dear Neighbors,
Well, we’re on an uncomfortable downwards slide as the legislature builds a budget in the shadow of the Governor’s $1 - $2 billion oil giveaway.
As you heard, there are, in my mind, much more effective, less damaging ways to amend our oil tax rules. See my recent op-ed.
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Houston, we have a problem! If you’d like to testify tomorrow on the operating budget before the House Finance committee, you’ll need some information, and it’s provided below.
The State seems to be building its own fiscal cliff to tumble over.
How? By creating a $1 – 1.5 billion deficit through a poorly crafted oil tax giveaway. The biggest part of the tax break gives away $1.5 billion or more in state revenue when oil prices are high.
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It’s easy to think that the laws we pass don’t make a difference. Well sometimes they do. Or at least help those, as in foster youth Sarah Redmon’s case, who just might have moved any mountain-sized obstacles out of her way on her own.
And – I’ll write a short note about a bill we will hear Monday – that weakens Alaska’s ability to prevent developers from taking huge amounts of water from fishing streams that might damage our prized sport, commercial and subsistence fisheries. Yup. This bill (House Bill 77) violates the “promise” we once heard that Alaska would never trade one resource for another. Well, Alaska will, and our fish are coming out on the short end lately. There’s currently an application to take out eighteen million gallons a day of water from a prized western trout and salmon stream, the Upper Talarik Creek drainage off Lake Iliamna.
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First, who knew so many of you actually read our e-newsletter? Thank you for the response to last week’s poll. You’ve asked that I keep things pretty much the same, and that if the letter is a looooong one, I give you the skinny at the top in case you don’t have time to read all the details and facts. It’s a deal!
And this Saturday you are invited to give testimony to the Legislature on any topic you wish. “Anchorage Caucus” – a fancy term meaning your Anchorage legislators will be in town for you – will be held at the Loussac Library, Assembly Chambers, from 9:30 a.m. – 1 p.m.
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Our Oil Bill: Alaska Production to Earn Tax Reductions
Earlier this month I and others filed legislation we think will work far better than the Governor’s bill. It requires Alaska production for reasonable tax reductions. That contrasts to the Governor’s bill, the major part of which gives away $1 - $2 billion in Alaska revenue allowing companies to spend that money anywhere they want in the world, with no Alaska investment requirements.
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