Referendum drive underway to repeal oil tax bill
A drive to repeal the oil tax bill that passed this year’s legislature is underway. The group, Vote Yes – Repeal the Giveaway, applied for a referendum petition that was approved last month. If enough signitures are gathered for the petition, the referendum will be on the 2014 ballot. Senate Bill 21, introduced at the behest of Gov. Sean Parnell, reduces taxes on oil taken from the ground in Alaska. Proponents asserted that the reduction in taxes will induce the oil extraction companies to increase production. Opponents voiced concerns that the reduction cuts too deeply into the amount of money needed to run the government and state services such as education. The group has a website at http://www.repealtheoilgiveaway.org.