The House had a hot debate over oil taxes this evening, but it wasn’t just about a reduction in the rate for the oil extraction tax (more on that here). The primary purpose of HB1234 was to establish the state’s oil revenue sharing with the tribes. It’s appropriate that tribal governments get a share of…
House Shoots Down Bill To Make Oil Tax Simplification Revenue-Neutral
In a state where revenues are running, in the current biennium, about 67% above last biennium we have no business raising taxes. But Democrats, joined by a number of Republicans, lead the charge to kill a half-cent decrease in the state’s oil extraction tax. The idea was to offset the tax increase resulting from the…