Wednesday, May 14, 2014

Reason #16: As owners of our oil, Alaskans deserve to be compensated fairly for our most valuable resource.


Senate Bill 21 denies Alaskans a fair share of our oil wealth, particularly when industry profits soar. Our prior tax system enabled us to grow our savings to $17 billion.  Under the new system, these savings will likley be drained within the decade.

Friday, May 2, 2014

Reason #14: Under SB 21, the Giveaway, oil production is forecast to decline 40% from today to 2023.


Governor Parnell promised that slashing oil taxes would increase production.  But now his Department of Revenue predicts a 40% production decline from today through 2023. This is a far cry from the million-barrel-a-day goal he set when promoting The Giveaway. 

Saturday, November 9, 2013

Reason #12: Senate Bill 21, the Oil Tax Giveaway, is a bad business deal for Alaskans.


ACES, our former tax system, was fair to all parties. It yielded handsome profits for the oil industry (more than $36 billion in 6 years) and Alaskans ($26 billion in production taxes in 6 years).
 
 

Reason #11: Senate Bill 21 will plunge Alaska into deficit spending.

SB 21 will plunge Alaska into deficit spending. Cash flow deficits will exceed $2 billion/year by 2018 and $3 billion/year by 2020, assuming state spending continues along its current trajectory.  We can and must do better!
 

Reason #10: Senate Bill 21 will drain Alaskans’ savings.

Under ACES, our savings grew to $17 billion, giving Alaskans the biggest state savings accounts in the nation. Under SB 21, our most accessible savings account the Statutory Budget Reserve will likely be wiped out by 2018, leaving Alaskans empty-handed.