- Associated Press - Thursday, August 14, 2014

ANCHORAGE, Alaska (AP) — A union representing about 5,000 members has come out in support of repealing the state’s current oil tax system.

KTVA reports (https://is.gd/EJhHJc ) the International Brotherhood of Electrical Workers Local 1547 says the oil tax put into place by the Legislature should be repealed because it doesn’t guarantee anything for the state.

Voters in Tuesday’s election will decide whether to repeal SB21, which lowered taxes on the oil industry. The intent of bill championed by Gov. Sean Parnell was to encourage oil companies to invest more into new exploration and production.

Critics have argued it’s nothing more than a giveaway to Big Oil, and note there’s nothing in the bill that makes the oil companies reinvest any savings from lower taxes in Alaska.

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Information from: KTVA-TV, https://www.ktva.com

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