Governor Walker Commends Legislature for Ending Cashable Oil Tax Credits
State ends cash subsidies to oil companies; Capital budget still to be addressed
July 15, 2017 JUNEAU —Governor Bill Walker tonight reacted positively towards the passage of House Bill 111 on the final day of the Second Special Session of the 30th Alaska Legislature. HB 111 was the only bill remaining on the second special session call for lawmakers to address.
“I commend members of the legislature for coming together in the spirit of compromise to eliminate unaffordable cash payments to oil companies,” Governor Walker said. “This is a meaningful step to help shore up our financial situation. I thank Representatives Geran Tarr and Andy Josephson, and Senator Cathy Giessel for leading negotiations to bring each body to this compromise deal. However, the work is not yet finished. Alaskans deserve a complete fiscal plan and economic stability for the future. I urge lawmakers to continue with this spirit of compromise and collaboration, and pull together to fix Alaska.”
Governor Walker said legislators need to present him with a compromise on the capital budget before he places it on the call for another special session.
“The state does not need to spend thousands of dollars in daily expenses simply for the parties to negotiate,” Governor Walker continued. “I have been assured, however, that legislators will reach a compromise in time to pass a capital budget before July 31. Once a deal is reached, I will immediately call them back into session.”