Massive giveaway with no commitments is based on trust, not facts
JUNEAU – Last night, House Democratic legislators stood up against the governor’s massive giveaway of Alaska’s oil wealth during a debate on the House Floor that lasted well past midnight.
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 Legislature today.
Read More →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.
Read More →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.
Read More →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.
Read More →Late Night meeting increased size of giveaway, repeats past mistakes
JUNEAU – Just after 2:00 a.m. this morning, the House Resources Committee voted to give away more of Alaska’s oil wealth with no guarantee of new production and to make the state rely on oil company statements instead of actual receipts when auditing deductions for tax breaks. The committee also tried to undo hard-won provisions that allow the oil companies that own the Trans Alaska Pipeline (TAPS) to charge the state and other companies for all of their expenses, not just the “reasonable” expenses allowed under current law.
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