Anchorage, AK — The oil industry is the backbone of Alaska’s economy and is the source of the bulk of our state revenue. Tax policy largely determines whether Alaska attracts the investment necessary to generate more oil, more jobs, and more revenue for the State.
“House Bill 111 is not ideal, but without compromise we will continue to damage our credibility, face more economic uncertainty, and make Alaska less attractive for investments,” said Curtis W. Thayer, President and CEO of the Alaska Chamber. “We encourage the House to take up the Senate’s version of the bill to end cash credits and put this issue behind us.”
The legislation strikes a balance between the original version of HB 111 and the goals of the Administration, the House, and the Senate, to eliminate refundable cash credits without compromising Alaska’s competitiveness to attract future investments.
About the Alaska Chamber
The Alaska Chamber, a private, non-profit corporation, operating since 1952, works to promote a positive business environment in Alaska. The Chamber is the voice of small and large business representing hundreds of enterprises, manufactures and local chambers from across Alaska. Our member companies employ over 100,000 hard-working Alaskans. View a list of our current priorities and positions here.