Why Is Alaska Overtaxing Its Most Important Industry?

As we head into the homestretch of much-needed tax reform in Washington, Americans back home need to understand that the political turmoil doesn’t just reside in the Swamp. States facing significant financial hardships face difficult choices as well. And instead of looking to create fair policy that encourages growth, some states, like Alaska, are looking to reprimand industries who are the backbone to the economy – costing Americans opportunity and growth.

Alaska’s Legislature is particularly known for debating the role the oil and gas industry plays in the state’s economy. In fact, economic opportunity in the Last Frontier has long been inextricably linked to oil and gas. That’s true for the thousands of Alaskans who make their living in energy development or in support of it. Yet, it’s also true for state government, which relies almost exclusively on the taxes and royalties paid by the industry to provide services and stay solvent.

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