Reason #12: Senate Bill 21, the Oil Tax Giveaway, is a bad business deal for Alaskans.

ACES, our former tax system, was fair to all parties. It yielded handsome profits for the oil industry (more than $36 billion in 6 years) and Alaskans ($26 billion in production taxes in 6 years).

 

 

Reason #11: Senate Bill 21 will plunge Alaska into deficit spending.

SB 21 will plunge Alaska into deficit spending. Cash flow deficits will exceed $2 billion/year by 2018 and $3 billion/year by 2020, assuming state spending continues along its current trajectory.  We can and must do better!
 

Reason #10: Senate Bill 21 will drain Alaskans’ savings.

Under ACES, our savings grew to $17 billion, giving Alaskans the biggest state savings accounts in the nation. Under SB 21, our most accessible savings account – the Statutory Budget Reserve – will likely be wiped out by 2018, leaving Alaskans empty-handed.