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Oil Tax Proposals Keep ComingGara, French present alternative to governor's billRelated Content
No surprise, oil taxes were a subject of discussion in the legislature Monday. Representative Les Gara (D-Anchorage) called for a committee hearing on the bill he introduced last year for tax credits for exploration and reinvestment in Alaska. And then Senator Hollis French (D-Anchorage) gave a speech on the senate floor. French opposes Governor Sean Parnell’s bill to cut oil production taxes by about $1.8 billion a year. He says Norway taxes a little bit more than Alaska, and yet has strong investment by the industry. “But the debate is raging here, and it’s not raging in Norway? Why?” French said. “Because they're hard-headed Norwegian patriots. They've put the rules in place a long time ago, and they've stuck by them. That's the way they want to structure their relationship with their partners. It's different here. I think the oil industry senses that they might get a dramatic reduction in their taxes, and they're pushing hard to get that. That's reasonable. That's what you expect them to do. But we have to be hard-headed in exchange." The governor’s bill passed the house last year but stalled in the senate. Senate President Gary Stevens has said the senate will develop an alternative proposal. Tomorrow the Senate Judiciary Committee hosts a two-day crime summit, including speakers such as U.S. Attorney for Alaska Karen Loeffler. There will also be a hearing on a proposed constitutional amendment that would require the legislature to save most surplus oil revenue. |
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rumor has it said on Tuesday, Jan 24 at 12:59 PM
that there are going to be alot of fireworks when the federal investigators track the 500 million... yikes I would not want to be on the end of that one!
80340899Anonymous said on Tuesday, Jan 24 at 12:54 PM
Get em Hollis...haha...and ask where that 500 million went to and why it was hand-delivered to England's prince when he vacationed in Canada??? TransCanada got a payback from a PIT-BULL attorney the President of the USA...pay backs have just begun my friend...and yes I will go after those who caused my losses...
80340519Good said on Tuesday, Jan 24 at 12:51 PM
You can't seem to trust the oil companies to keep thier word. Tax cut will not bring more work, only more dollars in profit for them. They need to show a trend over a few years of investing and hiring at a fair wage not the pay cuts, before we should even think of tax reduction.
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