This coming year Alaska will pay more to oil companies in “tax credits” than we receive in oil production taxes — for the third year in a row. It gets worse. The Department of Revenue forecasts that tax loopholes will provide Alaskans with no oil production tax revenue for the next decade — from any future oil fields, and from any fields that started after 2002. That’s a great deal if you can get it.
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I hope you had a great Fourth of July weekend! Now for some sobering news - a big wallop to hit you with after a long weekend. And a solution so you hopefully don’t ever feel that wallop! A recent study says Alaska is either in a recession, or is on the possible brink of one. That’s a big concern. Standing still isn’t the way to address this news. Here’s something we should do to help avoid any protracted recession.
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Below is an Op-Ed I wrote yesterday. It explains why the Legislature’s work isn’t that hard, should be done by now, and why taking a break from work in the Capitol doesn’t move our work forward. Here’s the link. The text is pasted below. As always, call or write if you have any questions!
Read More →Jointly Written Costello and Gara Bill Makes Communities and AHFC Housing More Vibrant, More Available
JUNEAU – Today, Representative Les Gara (D-Anchorage) issued the following statement on a bill sponsor Mia Costello (R-Anchorage) and he as a co-sponsor wrote and worked on together. The Bill, HB 50, passed the House today. A description of the bill is more fully detailed in a press release sent out by the House Republican Press Office today.
Read More →When debating proposals that could cost Alaskans billions of dollars, it’s important to have your facts straight. Recently a lobbying group took liberties with the facts to sway you into giving away Alaska’s fair return on the oil we own. People are entitled to their opinions. But they are not entitled to make up their own facts.
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