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Walker reduces amount available for oil tax credits

 


JUNEAU, Alaska (AP) — Gov. Bill Walker is limiting the amount available to pay for oil and gas tax credits this fiscal year, saying Wednesday that no sector of the state would be untouched by Alaska's current budget situation.

The credits affected are for explorers or companies developing fields but not yet in production on the North Slope and in Cook Inlet.

Walker said the tax credit system is unsustainable and that credits for these companies could soon top $1 billion, becoming one of the state's largest expenditures. Alaska needs to look for ways to provide incentives that don't drain...



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