Alaska voters to weigh oil production slide vs. costly tax incentives

July 23, 2013

A fight over a tax cut is morphing into a battle over Alaskans‘ sense of themselves and of an energy-based economy that has long distinguished Alaska from the Lower 48.

Faced with steep declines in oil production, the traditional backbone of the state economy, Alaska Republicans approved in May a massive tax cut for oil companies to spur exploration and production, but some residents now say they want the money back.

A citizens group backed by Democrats submitted more than 50,000 signatures last week to place a repeal of Senate Bill 21 on the August 2014 primary ballot, calling the multibillion-dollar tax overhaul an “oil wealth giveaway.”

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