Post by Logan on Feb 18, 2016 4:38:18 GMT -6
A proposal to make Alaska’s tobacco taxes the fifth-highest in the United States met a mixed reception from the Senate Labor and Commerce Committee on Tuesday as Senate Bill 131 received its first look in the Alaska Senate.
The bill is one of three that raise consumption taxes as part of Gov. Bill Walker’s comprehensive budget plan. To eliminate the state’s $3.7 billion annual deficit, the governor has proposed raising three consumption taxes (tobacco, alcohol and fuel), raising three business taxes (mining, fishing and cruise ship tourism) and making three large-scale changes (oil and gas tax credits, income tax and Permanent Fund investment spending).
The tax change is expected to raise about $29 million more per year; of that, $2 million will go to a quit-smoking fund. The rest will go into the state’s general fund.
“The governor’s intent here … was to make sure everyone pays a little bit,” said Ken Alper, head of the tax division of the Alaska Department of Revenue. Alper, together with Brandon Spanos, deputy director of the division, were presenting the proposal to lawmakers.
Read more: juneauempire.com/state/2016-02-17/tobacco-tax-hike-gets-first-hearing-senate
The bill is one of three that raise consumption taxes as part of Gov. Bill Walker’s comprehensive budget plan. To eliminate the state’s $3.7 billion annual deficit, the governor has proposed raising three consumption taxes (tobacco, alcohol and fuel), raising three business taxes (mining, fishing and cruise ship tourism) and making three large-scale changes (oil and gas tax credits, income tax and Permanent Fund investment spending).
The tax change is expected to raise about $29 million more per year; of that, $2 million will go to a quit-smoking fund. The rest will go into the state’s general fund.
“The governor’s intent here … was to make sure everyone pays a little bit,” said Ken Alper, head of the tax division of the Alaska Department of Revenue. Alper, together with Brandon Spanos, deputy director of the division, were presenting the proposal to lawmakers.
Read more: juneauempire.com/state/2016-02-17/tobacco-tax-hike-gets-first-hearing-senate