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.
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...