Stedman on Parnell Budget, SB 21

The following is taken from a Wrangell Sentinel article from December 19, 2013. (Underline and bold added).

“Everything we add’s going to increase the deficit,” Stedman said. “The deficits are projected to continue in perpetuity.”

Stedman particularly cites changes to oil tax revenues enacted under Senate Bill 21 as a contributing factor to deficit creation. The bill changed taxation on oil and gas companies with the hope of spurring a growth in energy jobs in the state.

“The operative word is ‘hope,’” Stedman said.

“When we looked back at the last several years, the last few years, budgets have allowed us to build things like the boat haul-out and refurbish the Chief Shakes building,” he added. “What’s coming in front of us is like what’s coming behind us a decade ago, where the state’s going to be in a position to focus on basic maintenance and won’t have the ability to be proactive.”

SB 21 will likely be a focal point for criticism in the 2014 elections, Stedman said.