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$20 for most Alaskans, More For Those With Upper Revenues: To Support The State Funding, Lawmaker Proposes Income Tax

Anchorage independent Rep. Alyse Galvin on Monday introduced a new bill to reimpose a state income tax, part of a broader proposal to address persistent state deficits.
$20 for most Alaskans, More For Those With Upper Revenues: To Support The State Funding, Lawmaker Proposes Income Tax

On Monday, Anchorage independent Rep. Alyse Galvin introduced a new bill to reimpose a state income tax, part of a broader proposal to address persistent state deficits.

 

Anchorage independent Rep. Alyse Galvin on Monday introduced a new bill to reimpose a state income tax, part of a broader proposal to address persistent state deficits.

$20 for most Alaskans, More For Those With Upper Revenues: To Support The State Funding, Lawmaker Proposes Income Tax (Photo by: Alaska Public Media)

Legislator Proposes Income Tax

On Monday, Anchorage self-reliant Rep. Alyse Galvin instructed a new invoice to re-impose a contour earnings tax, a component of a broader suggestion to speech persistently state shortages. House Bill 156 would like to tax Alaskans 2% of anyone’s annual revenue above $200,000. If someone puts together less than that portion, they’d pay $20. Any revenue tax couldn’t be automatically deducted from that year’s Permanent Fund compensation.

If the Senate and Gov. Mike Dunleavy were to adopt the draft without significant changes, the budget would have a deficit of almost $600 million, an amount that would have to be paid from savings if oil prices stay as projected over the 12 months beginning July 1. Alaska hasn’t had an income tax since 1980. A proposal to reinstate the income tax passed the Alaska House in 2017, but the state Senate rejected it.

Income tax proposals have been occasionally revived since then but haven’t garnered significant attention. Dunleavy has previously said he is uninterested in a broad-based statewide tax without a statewide referendum. Someone earning less than $200,000 would only be taxed $20. Nonresidents would be taxed.

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