The state foregoes more than $1 billion a year in revenue due to dozens of credits and exemptions set in state law.
If he wants to finally deliver some fraction of his 2018 campaign promise, he needs to explain how he will pay for it. As long as the governor stands in the way of new revenue, clinging to the fantasy that it all can be done without pain, he will also stand in the way of larger dividends.
Sure, the first dividend was $1,000 but the repeal of the income tax paid even bigger dividends to the wealthiest Alaskans.
As long as Dunleavy stands in the way to durable solutions, Alaska’s financial woes will continue.
The administration said it’d like to engage the Legislature on new revenue. “In specific, perhaps we could talk about sales taxes.”
The Legislature is nibbling around the edges on new revenue as the House starts to pull together its budget. Here’s some of what happened on…
The move would punch more multi-million dollar holes in budgets along the TAPS route, but the biggest impacts would be felt by the North Slope Borough and Valdez.
The $30 tax would be levied on every Alaska worker—regardless of residency—and raise an estimated $13 million per year for school construction and maintenance.
Dunleavy cited Colorado as a shining example of requiring voter approval of taxes, but it’s also meant “an explosion in fees” and budgeting tricks by the state’s Legislature.
The future of new taxes in Alaska isn’t a matter of “if,” but a matter of “when.”