More and more Alaskans are voicing support for Senate Bill 21, our legislation to spur new production and create more opportunity for Alaskans.
Last week, leaders from Alaska's 13 Regional Native Corporations called on legislators to continue moving this oil tax reform bill forward. Notably, they highlighted the importance of new production to rural Alaskans.
ANCSA Regional Association's Chair Jason Metrokin, said it well when talking about increased production having "tangible results for all of Alaska."
We know the long-term strength of our economy is tied directly to new oil production that benefits all Alaskans. But we also recognize that while we work to increase throughput in our economic engine, the Trans-Alaska Pipeline, we must ensure our State fiscal house is in order.
Like an Alaska family manages its household budget, the State also must live within its means. That is why I put forth a five-year fiscal plan and set a spending limit this year.
It's simple: We limit government's growth and step down spending levels over the next few years as we work to bolster new production on the North Slope.
Time is of the essence as oil production continues its steady decline. That is why Alaskans from across the state continue testifying about what oil tax reform means to them and their families.
We remain committed to legislation that meets our four principles for oil tax reform: one, that any change has got to be fair to Alaskans; two, it must encourage new production; three, it must be simple, so it restores balance to the system; and four, it must be competitive and durable.
With less than two weeks left in in this legislative session, the time to act is now: Let's pass Senate Bill 21.