Oil tax repeal on ’14 ballot - September 15, 2013

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Vol. 18, No. 37

Week of September 15, 2013

Oil tax repeal on ’14 ballot

Alaska residents will decide whether oil companies will keep a tax cut that the Alaska Legislature approved this year.

The Division of Elections has certified a repeal effort that will appear on the primary ballot next August.

Division of Elections Director Gail Fenumiai says in an email there were more than 45,000 qualified signatures. Backers had to only get a little over 30,000 to get it on the ballot.

The Legislature passed a measure this year that cuts taxes for the oil industry as a way to increase production and investment. Supporters of the tax cut, including Gov. Sean Parnell, say this will stem a decline in production.

Critics called it a giveaway to the industry and warned it will be devastating for Alaska’s budget.

—Associated Press

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Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©1999-2019 All rights reserved. The content of this article and website may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law.