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Home » Press » NEWS: Sen. French takes Governor to task for misleading Alaskans on oil taxes

NEWS: Sen. French takes Governor to task for misleading Alaskans on oil taxes

For Immediate Release: June 12, 2013

Sen. French takes Governor to task for misleading Alaskans on oil taxes

Public deserves facts on economic future

ANCHORAGE – Today Senator Hollis French (D-Anchorage) released a letter addressing misleading comments made by Governor Parnell during an exchange at the Juneau World Affairs Council.

         “It concerns me when the Governor knowingly misleads citizens about his oil tax policy in the midst of a vibrant and very public repeal effort,” stated Senator French, adding, “the Governor has misstated the history of how ACES was crafted and how his SB 21 will work. Most crucial, though, is his failure to clearly state the measure, whether it is production, or investment, or state revenue, by which SB 21 should be judged.”

         Senator French opposed passage of Senate Bill 21 this past session. In 2007, Senator French, along with a bi-partisan coalition of legislators, was a prime proponent of ACES. Alaska’s Clear and Equitable Share allowed the legislature to save over $17 billion in surpluses for a rainy day, while generating over a hundred thousand new construction jobs in Alaska.

         “Unlike under ACES, we now have billion dollar deficits accumulating due to the enactment of Senate Bill 21. By misleading the public on the facts behind his legislation, the Governor is engaging in a dangerous game, one that threatens the Alaskan treasury, our PFD’s, and creates a perfect fiscal storm that could cause a state income tax,” said Senator French.

         Link to the Governor’s comments on progressivity here:
         http://akdemocrats.org/gara/012410_petroleum_news.pdf

         Link to the Financial Times article quoted in the letter here:
         http://www.ft.com/intl/cms/s/0/19186502-d1f2-11e2-9336-00144feab7de.html#axzz2Vx4SgUzw

         For more information, please call Kristen Peterson (907) 269 – 0234 or kristen.peterson@akleg.gov

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