MAKE YOUR VOICE HEARD TODAY: OPPOSE HB 411
Days before the 90-day, voter-approved legislative session was to end, the House Finance Committee is considering HB 411, the 8th change in 13 years to oil tax policy. HB 411 would be a disaster for Alaska’s recovering economy and KEEP Alaska Competitive is strongly opposed to this legislation.
- Increases the tax burden on Alaska’s primary economic drivers by $750 million
- Eliminates legacy production per barrel tax credit
- Eliminates new production per barrel tax credit
- Creates tax brackets with stepped increases to tax surcharges
The House Finance Committee is accepting public testimony on HB 411 today at 5:00:
Participate in person at your Local LIO (click here for a complete list)
Participate via phone by calling in to: 844-586-9085
Email your written testimony to: firstname.lastname@example.org
Public testimony is limited to two minutes per person so please prepare your comments to make them as succinct and meaningful as possible.
Below are some talking points that may help you when developing your testimony:
- HB 411 is a $750 million tax hike on Alaska’s primary economic drivers
- Encouraging investment and resource production will have a significantly more positive impact on Alaska than the marginal revenue raised from the proposed tax hikes.
- The elimination of legacy production tax credits removes the incentive for producers to hold Prudhoe Bay, Kuparuk, the North Slope and other legacy fields’ production steady resulting in declined legacy production.
- Eliminating new production tax credits will prevent many of the recent discoveries from ever being brought into production.
- We are slowly seeing the end of a recession that has eliminated thousands of jobs and forced too many Alaskans to leave the state. This is the wrong time to disincentivize development.
- HB 411 will make Alaska less competitive with other oil and gas jurisdictions by raising costs in an already high-cost Arctic environment.
If you have any questions or comments please contact us at (907) 569-7070 or send an email to email@example.com