JUNEAU – The Senate Rules Committee introduced legislation Friday to fix several flaws in Alaska’s oil tax structure. Senate Bill 114 would level the playing field by having all oil producers pay the same corporate income tax rate as corporations at 9.4%. This would only apply after the first $4 million in annual net income. […]
(Juneau) – Unexpected oil revenue to the State has created a projected $3.6 billion increase to the revenue forecast over this year and the next, according to the Alaska Department of Revenue’s Spring 2022 Revenue Forecast released Tuesday. Alaska Governor Mike Dunleavy requested the Legislature to use some of the surplus to get immediate relief […]
(Anchorage) – Department of Revenue (DOR) Commissioner Lucinda Mahoney released the preliminary Fall 2021 forecast Friday. The Department has previously published an early estimate of the state’s revenue picture when prices have strayed significantly from the preceding official forecast. Today’s forecast illustrates the state’s revenue improvement of an additional $1.2 billion for FY 2022 and […]
Following Sen. Kyrsten Sinema’s objection to raising the corporate tax rate, the party has turned to Sen. Ron Wyden’s proposal. ; As House Speaker Nancy Pelosi indicated the Democratic Party was close to a deal on the social spending package whose passage right-wing Democrats have obstructed for weeks, economic justice advocates ramped up pressure on […]