Gov. Sean Parnell’s campaign has had it rough lately. Today, however, it got at least a little boost when lieutenant governor candidate Byron Mallott admitted during a lieutenant governor’s forum that although he voted to repeal the oil tax bill, “SB 21 is working.”
Here’s the audio of that that’s zipping through the tubes:
The Parnell campaign said it was “pleased.”
Also along those lines, Tim Bradner has a piece about the $20 per barrel drop in oil prices since July and that the state is better protected against such drops under SB 21 than it would be under ACES. “We are much better protected under MAPA than we would have been at these oil prices,” Commissioner of Department of Revenue Angela Rodell is quoted as saying.
MAPA has a fixed tax rate of 35 percent while the tax rate under ACES fluctuated with changes in oil values and as oil prices drop the ACES tax rate would have dropped quickly. At $90 per barrel, ACES would bring in about $3.08 billion. Under MAPA, revenues would be $3.22 billion, according to an analysis by the Revenue Department.