Anchorage 49.0 °F
Fairbanks 39.0 °F
Juneau 51.0 °F
Oil Tax Repeal Officially on Primary Ballot
Alaska residents will decide whether oil companies will keep a tax cut that the Alaska Legislature approved this year.
JUNEAU- 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 (feh-NEW'-me-eye) 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.