Alaska Chamber responds to the latest proposed oil and tax legislation
Anchorage, AK – After the House Majority’s introduction of House Bill 111 today, Alaska Chamber President and CEO Curtis W. Thayer issued the following statement in disappointment of HB 111:
“HB 111 is yet another change to oil and gas taxes in a series of changes that creates uncertainty for national and global investors. In the last 11 years alone there have been six changes to Alaska’s oil and gas taxes. The latest change, House Bill 247, was just signed by the Governor into law last July with many of its provisions having yet to take effect.
Businesses cannot thrive in an uncertain environment where tax policies continually change. We’re already seeing business in other sectors holding back given the uncertainty of the State’s fiscal issues. Alaskans cannot expect investors to take the financial risk when the rules they have to follow are constantly changing.
While there is little we can do about the volatile nature of oil prices, we can control and maintain stable policies. Making and keeping Alaska competitive nationally and globally is critical to Alaska’s long-term sustainability.”
The Chamber supports a positive investment climate that provides certainty and stability for statewide oil and gas activities, and opposes efforts to increase oil and gas taxes. The Chamber will continue to advocate on behalf of its members to the Legislature on the importance of creating a stable business climate that fosters investment and job growth.