JUNEAU — Opponents of a proposed oil tax overhaul rallied across the state, including on the steps of the state Capitol, Thursday, while a rewritten tax bill advanced in the Alaska House.
Supporters of a tax change say Alaska can’t stand by as production continues to decline. They see lowering taxes as a way to increase production and investment.
Production has been on a downward trend since the late 1980s, but higher prices in recent years have helped to mask the impact of the decline on the state budget. Alaska relies heavily on oil revenues to run.