March 1, 2012 | Vol. 39, No 9

Guest Editorial

ACES needs to be fixed, but HB 110 is not the solution by Senator Bert Stedman, R-Sitka, Southeast Alaska, co-chair of the Senate Finance Committee

Alaska’s current petroleum tax system, Alaska’s Clear and Equitable Share (or ACES, for short), was an ill-conceived policy pushed through by then Governor Sarah Palin in 2007. When ACES was voted on in the Senate, I was one of only five Senators who voted against it. My reason was simple: I felt then and I still feel that ACES is anything but “equitable” and that under ACES the government take at high oil prices is excessive.

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Those who voted for ACES did so with the best of intentions and I don’t hold that vote against them. Instead, I have been working with my colleagues to...

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