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Alaska: Governor Walker Calls Legislature into Special Session to Fix Alaska’s Fiscal Crisis - Wednesday, Governor Bill Walker called the Legislature into special session to pass the operating and capital budgets, fix Alaska’s fiscal and opioid crises, and create the economic certainty the state needs. The Special Session began this morning, May 18, at 11:00 a.m. 

“I thank members of the House and Senate for taking positive steps toward solving Alaska’s fiscal challenges,” Governor Walker said. “However, the work is not done."

Walker said, "Our state cannot afford to continue drawing down savings to pay for schools, roads, and public safety. Alaskans deserve a complete fiscal plan that puts an end to the economic uncertainty we have been facing. It is for those reasons that I am calling the legislature into special session, and urge everyone to work toward compromise to fix the crisis now.”

The First Regular Session of the 30th Alaska State Legislature ended Wednesday night with clear differences between the Alaska House Majority Coalition and the Alaska Senate Majority on the need for a comprehensive fiscal plan to address the ongoing recession and the $2.7 billion budget gap. Both majority organizations wanted the ten-day extension allowed for in the Alaska Constitution, but the House Republican Caucus refused to provide enough votes in favor. In response, Governor Bill Walker called the Alaska Legislature into a Special Session to start Thursday.  

Quoting a news release, the Alaska Senate stated they delivered a responsible operating budget and a sustainable fiscal solution while protecting working Alaskans from an income tax, all key priorities in a year with serious fiscal challenges. But without a compromise with the House at the 121-day constitutional session limit, the Senate must adjourn. Members are committed to working diligently in a special session to address these critical fiscal issues facing Alaska.

“We are required to deliver an operating budget and Alaskans deserve a fiscal solution – the Senate has delivered on both counts,” said Senate President Pete Kelly (R-Fairbanks). “The House has insisted on demands that are not in the best interest of Alaska. We’ll stay as long as necessary to secure the right solution for Alaskans, and encourage the Governor to call a special session to narrow the focus to solving the fiscal problem.”

Quoting a news release, the Alaska State Senate executed promptly this session, delivering a fiscal solution in mid-March and a responsible operating budget in early April. Senate committees cleared the deck of individual priorities by day 90, focusing on key fiscal issues. They say the Alaska House delayed appointment of conference committees to resolve the differences among the two bodies, focusing instead on non-priority and personal legislation. - More...
Thursday PM - May 18, 2017

Alaska: Oil Tax Credit Disagreements Continue - Following an Alaska Senate vote Monday, the state will stop offering cash tax credits to oil companies at the end of this year. However, the Alaska House said the vote by the Senate has significantly weakened House Bill 111, which passed the House last month.

“This legislation ending our tax credit program is critical, now, to reduce our cash exposure and protect the state’s treasury,” said Sen. Anna MacKinnon (R-Eagle River). “Without this bill, the state would be on the hook to make cash payments of $150 to $200 million per year, indefinitely, to the eligible small and new companies. We cannot afford to continue this practice.”

House Bill 111 eliminates the state’s cash exposure by ending the program of refundable oil and gas tax credits while protecting the basic components of the tax regime in place today. The current tax regime has boosted production and investment, drawing royalties and tax revenues to Alaska’s treasury and supplying thousands of good jobs to Alaska workers.

“Ending cash credits is a necessary step for the state, but will have serious impacts on smaller companies investing in Alaska’s oil fields,” said Sen. Cathy Giesse (R-Anchorage). “It is more important than ever we maintain a competitive tax system so we can attract the necessary investment for our future oil production, which provides critical dollars we’re counting on to the state treasury.”

With the end of the net operating loss credit statewide, the Alaska Senate and House versions of HB 111 transition to a system of carrying forward lease expenditures that result in a loss for use against future tax liability. Companies with a loss will not be able to use the loss to reduce taxes below the 4 percent gross minimum tax.

The legislation also seeks to provide new opportunities for companies holding refundable tax credits issued before Jan. 1, 2018, to offset prior year tax liabilities related to audits. - More...
Thursday PM - May 18, 2017

In a few days, I will begin to retrace those steps. This summer, I will try to again walk from Valdez to Prudhoe Bay along the gravel path that parallels the trans-Alaska pipeline.

The first journey, with my chocolate Labrador retriever Jane, occupied my whole summer of 1997, from early May until the end of August. With Jane, I ascended and descended the Chugach, Alaska and Brooks mountain ranges. We drank from creeks and rivers, fed a million mosquitoes and slept in a new place every night. We shared miles of trail with friends and family and did not set any speed records.

We walked for 120 days, from the time the geese were touching down until they left in big Vs. I wrote about that summer in a series of newspaper columns and a book, “Walking My Dog, Jane: From Valdez to Prudhoe Bay Along the Trans-Alaska Pipeline.”

I’ll again be traveling with a dog, but my life is not as wrapped up in Cora as it was in Jane. This time I’ll also share some trail with wife Kristen and daughter Anna.

Why do it again? A few years ago, former UAF Chancellor Brian Rogers suggested I hike the trail at the 20-year anniversary. I had not thought of repeating the experience. For the most part, I agree with Talkeetna adventurer Dave Johnston’s philosophy: It’s a big world. Why do anything twice? - More...
Thursday PM - May 18, 2017

COLUMNS - COMMENTARY

TOM PURCELL: Fake Dirty Jeans: Just $425 in Real Money - Every now and then, I come across items in the news that make me worry about the future of our country.

Here's one such item: CNNMoney reports that Americans are paying hundreds of dollars for dirty jeans.

According to Nordstrom, a nutty retailer that sells such jeans, they "embody rugged, Americana workwear that's seen some hard-working action with a crackled, caked-on muddy coating that shows you're not afraid to get down and dirty."

They sell for 425 bucks a pair.

And, believe it or not, the distressed-jeans phenomenon has been around for a while.

"The filthy fashion statement isn't actually new," reports CNNMoney. "The jeans have been for sale at Nordstrom as well as at Neiman Marcus and Saks Fifth Avenue for quite some time."

This causes my father to rise up in me as I say, "What the ... ." - More...
Thursday PM - May 18, 2017

DAVE KIFFER: Quibbles and Bits - Sometimes you just have to patch a column together with bits and pieces, or in my case - stealing a title from a column I used to write for the college newspaper 30 years ago .... Quibbles and Bits.

Since our school mascot was the Husky, and one of the highly ranked officials at our school was named "Astro" it seemed appropriate to use a pun on the popular dog food for my ramblings.

Natch, whenever the aforementioned Dean Astro would issue a statement, we would title it "Rime Rorry."

Which I'm sure did not amuse him, but it sure amused us - and other fans of the Jetsons' TV show as well.

But, as usual, I digress.

On to the Quibbles and Bits:

Like how I got a flyer in the mail for a book called "101 English Idioms: Learn to Speak Like An American Straight from the Horse's Mouth." Gee, I hate to be a "neigh" sayer, but..... - More...
Thursday PM - May 18, 2017