Alaska Steps Closer To Hiking Its Oil Tax

Law360, New York (November 19, 2007, 12:00 AM EST) -- The Alaska legislature has voted in favor of increasing its tax on the oil industry, approving a bill that has received strong backing from the governor and stout opposition from major energy companies.

The state House of Representatives on Friday confirmed a bill that had been passed on from the Alaska Senate, agreeing to reform a tax system that has recently been fraught with corruption. The legislation has now been sent to Gov. Sarah Palin's office, and is expected to receive a signature.

“All Alaskans should...
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