Ad campaign targets lawmakers as battle over income tax heats up
JUNEAU — A revised version of the Alaska House's income tax proposal is drawing new attacks from Republicans and the state's business community, with the state chamber of commerce launching an ad campaign against the legislation.
Leaders of the House majority coalition who drafted the tax bill say it would fill a deficit that would still be more than $500 million even after adopting a state Senate proposal to restructure the Permanent Fund and slice dividends in half.
But chamber officials argue that the impact of the income tax proposal — which includes a new tax on trusts and estates — would hurt businesses badly enough that they'd rather hold out for deeper spending cuts and a potential rebound in the price of oil, which could help fill Alaska's deficit.
"We want to see budget cuts," said Curtis Thayer, the head of the chamber. If the price of oil rises enough, he added: "We're out of a problem."
Read more: https://www.adn.com/politics/alaska-legislature/2017/03/29/alaskas-income-tax-fight-heats-up-with-attack-ads-from-state-chamber/