Why is Senate Bill 114, Oil Subsidy Reform, Needed Now?
Alaska is facing a Billion-dollar budget shortfall over the next two years. This could lead to drastic cuts to essential services such as education, public safety, and roads. New, regressive revenue measures are being considered such as cutting PFD checks, implementing a sales tax, or creating an income tax.
Solution: Senate Bill 114 is a bi-partisan, compromise effort, that will close the S-Corporation tax loophole and tie per-
barrel oil tax credits to investment with a cap reduction from 8-5 dollars/barrel. This will lead to $500-600 million more
We need you to contact YOUR legislators and tell them you support this bi-partisan effort to fix the broken oil tax system!
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