Tag Archives: oil tax trigger

It's A Good Thing North Dakota Democrats Didn't Get Their Way On Taxes And Spending

It's A Good Thing North Dakota Democrats Didn't Get Their Way On Taxes And Spending

During the legislative session earlier this year Democrats were in attack mode over two budget concerns. For one thing, they were worried that concerns over low oil prices would have the Republican majority spending too conservatively. “The sky is not falling here,” Senate Minority Leader Mac Schneider, a Democrat from Grand Forks, said. “We don’t

North Dakota Democrats Still Wrong About The Oil Tax Trigger

During the Legislative session earlier this year lawmakers were concerned, in a big way, about falling oil prices and the impact that would have on tax revenues. Ours is a state that budgets on revenue projections, and falling oil prices wouldn’t just hit direct taxes on oil activity. Less oil activity means less hiring and

oil tax

Get Your Tin Foil Hats: Democrats Accuse Republicans Of Controlling Oil Prices

Now that the much-dreaded “big trigger” oil tax exemption didn’t kick in thanks to a modest recovery in oil prices Democrats have decided to make political hay over bipartisan oil tax reform to eliminate that trigger in exchange for lower overall rates. Today the Democrats’ legislative leadership – House Minority Leader Kenton Onstad and Senate

oil tax

What North Dakota Democrats Aren't Telling You About Oil Tax Revenues

During the 2013 legislative session, when lawmakers were debating a proposal to eliminate triggers and exemptions in the state oil tax and replace them with a lower overall rate, Democrats rushed to the media with scary numbers about lost revenues. But it turned out the numbers they were using were cooked. No doubt hoping that

ND Democrats Fighting Oil Tax Reform Should Take A Lesson From Kent Conrad

In the House Finance and Taxation committee today there is heated testimony over a delayed bill to eliminate a tax exemption triggered by low oil prices which could cost the state billions of revenues in the next biennium. Currently a 100 percent exemption to the state’s 6.5 percent extraction tax is on pace to trigger

Ahead Of Revenue Forecast Dems Doing Oil Tax Trigger Damage Control

There is absolutely no question at this point that the decision by lawmakers in 2013 to rid the state’s oil tax code of oil price “triggers” and other exemptions was a mistake. With oil prices continuing to plunge it seems likely that a trigger eliminating the state’s oil extraction tax, and causing a wild multi-billion dollar

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North Dakota May Be Just Days Away From First Oil Tax Trigger

With oil prices plunging one major area of concern for North Dakota, aside from the economic downturn that would result from declining oil activity, is the impact on the state budget. Lower oil prices means less revenues for the state, particularly if two tax trigger landmines embedded in the code are invoked. Those triggers fire