AMA joins OneALASKA: Vote no on Ballot Measure 1
HURTS ALASKAN FAMILIES Alaskan families work hard to stay ahead in our economy. Even those who don’t work directly with oil and gas rely on a healthy indus- try – for every Alaska oil industry job, 15 more Alaska jobs are creat- ed. A healthy industry funds public services, the Permanent Fund and infrastructure. The workforce em- ployed by the industry impacts all parts of the Alaskan economy, from Ketchikan to Utqiagvik. POLICY DRAFTED IN THE DARK Changing state oil tax law re- quires careful and thoughtful study, because the impacts are serious and long-term. This ballot measure was drafted by a small, private group with no public input, hearings or scrutiny by independent economic experts or the Alaska State Legisla- ture. In their analysis of this mea- sure, the Alaska Department of Law states “the vagueness of the lan- guage and the lack of definitions would also lead to numerous imple- mentation and potential constitu- tional concerns post-enactment.” This is the wrong way to make major policy that will impact the State’s economic future now and for years to come. Paid for by OneALASKA - Vote No on 1, Anchorage, AK. Chantal Walsh, chair, approved this message. Top three contributors are BP Alaska, Anchorage, Alaska, ConocoPhillips Alaska, Anchor- age, Alaska, and ExxonMobil, Anchor - age, Alaska
As COVID-19 has devastated economies across the state, this ballot initiative places additional obstacles in front of Alaskan fam- ilies who are trying to stay ahead. Under our current tax structure, Alaska’s oil production stabilized after years of sharp declines, and new development projects will help bring Alaska out of recession. Now is the wrong time to reverse Alas- ka’s progress towards new invest- ment and new jobs. This ballot measure would be a short-term tax gain at the cost of long-term oil production and state revenue. jobs across Alaska and the coun- try, Alaska had the highest unem- ployment rate in the nation and was still climbing out of recession. Following the oil price crash a few years ago, the oil industry lost HURTS JOBS Before COVID-19 devastated several thousand jobs, and had just begun to turn the corner toward recovery. With one-quarter of all Alaska jobs tied to the oil and gas industry, now is not the time to raise taxes. The ballot measure sponsors claim that a tax hike of this magni- tude on over 80% of the production from our state’s largest econom- ic driver will not hurt economic growth, or the good paying jobs Alaskans need. No industry in Alaska can sustain that level of tax increase without it impacting jobs. The impact of this initiative will be felt directly first-and-foremost by Alaskan workers.
EDITOR’S NOTE: At the Novem- ber 2019 Annual Board of Directors meeting, AMA formally took a position opposing Ballot Measure 1, Alaska’s Fair Share Act, which proposes a 300% tax increase on the oil industry. Because AMA recognizes that regulating eco- nomic development via ballot measure is the wrong way to create policy, and because constant changes to taxation policy brings uncertainty to all types of investment, this position was a no-brainer. AMA continues to support the efforts of OneALASKA, the coalition formed to oppose the measure. ABOUT THE ISSUE Ballot Measure 1 goes too far and puts Alaska’s economic recov- ery at risk by jeopardizing existing and future jobs, new projects that will grow oil production, and State revenue. healthy oil industry to fund essen- tial public services, the Permanent Fund, and critical infrastructure. The ballot measure sponsors say this measure would increase tax- es by at least $1 billion dollars; an independent economic analysis says it represents a 300%-plus increase at $60 per barrel oil prices. A tax increase of this magnitude HURTS ALASKA’S ECONOMY Alaska’s economy depends on a will make Alaska less competitive. A less competitive Alaska will impact investment and could eliminate or postpone promising oil develop- ment projects, ultimately resulting in fewer jobs for Alaskans, less oil down the pipeline and less long- term revenue for the state.
Candidates for Alaska Legislature share views with miners
Following the August Primary Election, AMA reached out to all candidates for the Alaska Legislature and offered to feature their statement in this issue of the Alaska Miner magazine. We suggested that candidates share their values, priorities for Alaska, and anything else they’d like Alaska’s miners to know. The following statements are submitted directly by
the candidates and should not be considered endorse- ments by AMA, nor should their positions be considered positions of AMA. Also, although all candidates received the invitation, several candidates did not submit statements. Those that did are included in the following pages. The General Election is Tuesday, Nov. 3.
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The Alaska Miner
October 2020
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