After Colleagues Rushed Proclamations, Senator Wants Focus on Actual Facts and Consequences Before Passing Judgment on ACES
Anchorage – After reviewing the press releases and background documents, State Senator Cathy Giessel cautions taking fellow Senator Bill Wielechowski’s proclamations about ConocoPhillips’ latest Securities Exchange Commission filings with a heaping tablespoon of salt.
“Perhaps he should consider reading glasses,” Giessel, R-Anchorage, said. “The asterisk and small print on Alaska in the segment highlighted by his press release shows that the low-balled 35 percent number doesn’t factor in property taxes or severance tax, which pushes their effective tax rate under ACES closer to 64 percent. If you add in our royalty charge, you’re up around 70 percent. That’s a significant difference, and a big deal.” Read the rest of this entry »