Begich proposes tax break for fuel

Sen. Mark Begich told Alaska policy organization Commonwealth North on April 20 that he plans to introduce legislation, called the Family Account to Save on Transportation Act, that would enable employers to set up pre-tax transportation savings accounts, from which employees could pay for their transportation fuel needs. The system would operate along the same lines as the medical savings accounts that people can use to save pre-tax dollars for medical expenses.

“With gas prices already more than four dollars a gallon, the average price is more than 95 cents higher than this time last year,” Begich said. “In addition to focusing on long-term solutions for energy prices, the FAST Act could bring some short-term relief, allowing Alaskans to put some pre-tax money aside to help offset those costs.”

Begich said that he also wants to see the development of new energy sources, including wind, tidal and geothermal energy, in Alaska to offset rising oil and gas prices. And he said that he would continue to push in the U.S. Senate for increased energy conservation block grant funding; increased funding in support of the Alaska Energy Authority’s focus on increased industry energy efficiency; extending tax credits for renewable energy sources; and decreasing U.S. dependence of foreign oil.

—Alan Bailey