Democratic Senate Minority in Legislature Fighting Governor's Oil Tax Bill
Dem Sen. Wielechowski calls Parnell's bill "crazy"
ANCHORAGE - In Juneau, Republicans now control both houses of the Legislature, as well as the governorship.
At a press availability Wednesday, Wielechowski characterized the governor's new bill as “crazy.”
"When we passed ACES, we went from a gross tax structure which protected the state on the down side, and instead we said we're going to take the money on the high side. Now what he's doing is he's giving away the low side and now he wants to give away the high side. Terrible public policy. There's not an expert that has testified before us that says we need to do this."
By way of comparison of revenue-raising systems, Wielechowski said that the Norwegian permanent fund, with less oil revenue accumulated over less time, stands at $600 billion, 15 times the size of the Alaska Permanent Fund.
Wielechowski does want to see some changes to ACES. He said there should be a cap on progressivity.