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House Pushes Discussion on Oil and Gas Tax Credits

KSRM News Desk

With just about a week left in this legislative session, the Alaska House is taking its time considering a bill that would reform the state’s tax credit program for oil companies.

 

After delaying a scheduled floor vote yesterday, House Speaker Mike Chenault says his majority caucus is not ready to vote on the reform. Instead they are woring to amend a bill to reduce the amount of credits the state pays out to oil and gas companies int he form of tax credits.

 

Under its current structure, Alaska could pay out $825 million in credits next year to companies with no tax liabilities.

 

Representative Chenault says caucus members are divided between the ideas that there should be fewer changes to the industry that is already struggling amid low oil prices, and those who think there should be more cuts to reduce payouts.

 

Today the House pushed further discussion on the bill until Tuesday, April 12.

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