What Does Ballot Measure 1 Do?
- Raises oil taxes by 150 to 300 percent* in a single year.
This will hurt families and workers. Local Alaska businesses will see job losses as oil companies spend less due to the tax increase.
- Targets and isolates three large North Slope oil fields.
Increasing taxes on over 80 percent of Alaska’s oil production won’t increase spending in new and existing fields.
- Creates uncertainty by using undefined terms.
According to the Alaska Department of Law, this ballot measure is unclear and poorly written.
- Harms Alaska’s economic recovery.
This complex tax policy was written with no opportunities for public input or expert analysis.
- Changes tax structure for the eighth time in 15 years.
SB 21 is working. The current tax system has generated more revenue and more production for Alaska and has created a climate for investment generating new discoveries and more projects.
*Depending on price. Source: Roger Marks, Independent Economist