
Forrest Dunbar
44:26 - 45:11
"in the construction phase, when you're not getting gas taxes, you are going to be losing oil revenue. So this bill, as it's currently written, unamended, it won't just raise very little in gas taxes in the long term, it'll also actually substantially harm Alaska's existing oil tax revenue in the short term and during the, and during the construction phase. That means less money for schools, less money for the PFD, less money for road maintenance"
“in the construction phase, when you're not getting gas taxes, you are going to be losing oil revenue. So this bill, as it's currently written, unamended, it won't just raise very little in gas taxes in the long term, it'll also actually substantially harm Alaska's existing oil tax revenue in the short term and during the, and during the construction phase. That means less money for schools, less money for the PFD, less money for road maintenance”
So again, in construction— in the construction phase, when you're not getting gas taxes, you are going to be losing oil revenue. So this bill, as it's currently written, unamended, it won't just raise very little in gas taxes in the long term, it'll also actually substantially harm Alaska's existing oil tax revenue in the short term and during the, and during the construction phase. That means less money for schools, less money for the PFD, less money for road maintenance, which we know we're going to need more of. So again, this bill actively harms Alaska's existing tax revenue unless we find some way to address the lease expenditure issue. So in the Resources Committee, we had 3 potential solutions.
The Alaska Senate on Friday adopted a pass-through entity tax on oil and gas income with a 2028 effective date, after rejecting an immediate version 9-11, then passing HB 381 12-8 with the provision included.
