The far-left Juneau Empire shows left-wing Alaska Democrat Bill Wielechowski effectively conceding that the oil tax reform that Governor Palin implemented is responsible for the strong financial position that Alaska finds itself in today (emphasis added):
The ACES tax has….provided the state with about $11 billion in savings…to help buffer the state against future downturns.
“That can be attributed almost completely to the fact that we have ACES,” he said. “If we didn’t have ACES, we would be in deficit spending this year.”
Without mentioning the governor who first proposed the ACES tax, Palin, Wielechowski credited it with the state’s current fiscal health.
Without ACES, he said, “We would have been in deficit spending for the last three years.”
ACES includes enormous tax incentives to promote additional exploration and drilling, he said.
Since ACES was adopted, the number of companies active in Alaska has increased significantly, he said, with smaller companies aggressively seeking the ACES tax credits to do the exploration that the big producers have not done.