Tax Battle Blocks Alaska Gas Deal

Alaska lawmakers are locked in a high-stakes standoff over a massive natural gas project, with the fate of the state’s finances hanging on a single tax issue: whether to extend corporate income tax to private oil and gas companies. House Speaker Bryce Edgmon sees it as a vital revenue opportunity, while Governor Mike Dunleavy and developer Glenfarne fiercely oppose it, calling it overly complex and damaging to investment. The company argues the proposed tax would undo the benefits of a volume-based gas tax replacing property taxes. Senators pushing for the tax say the state can’t afford to give away revenue without balance. With the special session ending soon, the conference committee races to find common ground — and whether they’ll succeed remains uncertain.

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