JUNEAU, Alaska — Senate President Gary Stevens (R-Kodiak) said Tuesday he does not think the governor's oil tax bill (SB 49) will make it out of committee, let alone to a floor vote.
Stevens said he's waiting to see what passes out of the House, but that so far he has not heard assurances that the proposed tax breaks and incentives package will benefit the state in the long run.
"It all seems to be a hope, a wing, and a prayer, so I'm very concerned about if we'll see any real results," Stevens said, "and I think it's reasonable that we question it and look at it carefully and be very cautious,"
Stevens said the Parnell administration has not done a good job of defending the measure or explaining its consequences.
SB 49 is in the Resources Committee, where Stevens said it will likely stay.
The Bi-Partisan Working Group majority caucus is more interested in advancing a bill (SB 85) sponsored by Sen. Tom Wagoner (R-Nikiski), which offers tax credits for new oil and gas development.