House Republicans Agree Cash Payments to Oil Companies Need to End
Thursday, June 29, 2017, Juneau, Alaska – House Republicans are glad to see a proposal on oil cash payments (HB111), brought forward by the Senate Majority, which they can get behind. The proposal just laid out comes at a crucial time, as highlighted by the Senate, because the state would be losing $1 million a day if cash payments to oil companies are not addressed.
The key component of their plan, ending cash payments to oil companies, is bold and would take effect almost immediately. During this fiscal environment, House Republicans believe there is a need to recognize the state cannot afford these cash payments.
Now it’s up the Democrat led House Majority to come to the table on this issue. Our members are ready to work and urge quick action before the end of this special session on July 16.
For more information contact Press Secretary Mallory Walser at Mallory.Walser@akleg.gov