There’s a lot of nonsense being published about the Fair Share Act and the issues that make it critical for our state. We didn’t get into this fight without doing our homework. You can read our summary or find your frequently asked question below.
How is Alaska’s oil production revenue system broken? 2020-09-18T15:18:00-08:00 How is Alaska’s oil production revenue system broken?When Alaska’s current oil tax system, SB 21, passed its backers made four promises: More oil production, more jobs, more money in the Permanent Fund, and economic growth in Alaska. All four proved false: oil production has continued to decline, oil jobs have decreased, Permanent Fund Dividends have been cut, and budget cuts forced the state into a recession. Alaskans have the chance to fix this broken system and replace it with a system that is fair to Alaskans and producers both.
How will the Alaska’s Fair Share Act save jobs? 2021-02-09T09:13:31-09:00 How will the Alaska’s Fair Share Act save jobs?Jobs have been lost across Alaska’s economy due to the budget crisis caused by our broken oil tax system. Teachers, university staff, police, and firefighters have all lost their jobs through direct cuts and these cuts forced Alaska into an economic recession last year- long before the pandemic. Many more Alaskans have lost their jobs indirectly as critical services like the Alaska Marine Highway have been gutted and Alaska has not been able to fund a basic construction (capital) budget in years.
While Big Oil promised that our oil tax system would create jobs, it has completely failed. Oil and gas jobs have been cut over 30% – from 14500 to 9880. We gave up billions of dollars for that promise – billions that went out of state. We are better off keeping those billions of dollars in the state and supporting our economy here with more jobs.
How will Alaska’s Fair Share Act save the PFD? 2021-02-09T09:18:53-09:00 How will Alaska’s Fair Share Act save the PFD?Under our broken oil tax system state revenue plunged, savings were plundered, essential services cut and the PFD reduced. Now we could not balance our state budget even if we laid off every state employee. Even if there were no PFD next year, Alaska will still have a budget deficit. Alaska’s Fair Share Act is the only revenue option that could raise revenue in the current fiscal year and passing it is critical to saving the dividend.
Why is it so critical that we fix our broken oil taxes this year? 2021-02-09T09:17:32-09:00 Why is it so critical that we fix our broken oil taxes this year?Thanks to our broken oil tax system, Alaska is facing a historic budget crisis that has already cost hundreds of Alaskans their jobs, devastated coastal communities through cuts to the Alaska Marine Highway, gutted the University of Alaska, and taken thousands of dollars from Alaskans’ PFDs. Unless we pass Alaska’s Fair Share Act, the Legislature will have no choice but to kill even more Alaskan jobs when they convene. Alaska’s Fair Share Act is the only revenue option that can be implemented in time to save Alaskan jobs.
How does Alaska’s Fair Share Act eliminate wasteful government spending? 2021-02-09T09:16:03-09:00 How does Alaska’s Fair Share Act eliminate wasteful government spending?The biggest area of government waste is per barrel tax subsidies the oil companies receive from every single barrel the produce. Last year this cost Alaskans $1.2 billion, and Ballot Measure 1 eliminates them and reinstates our constitutional obligation to use our natural resources for the maximum benefit of our people.
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