Comments filed on behalf of Alaskans for Sustainable Budgets with the House Finance Committee on HB 202 (Rep. Merrick) proposing a restructuring of and cuts in the Alaska Permanent Fund Dividend (PFD).
HB 202 & HB 37 (Statutory PFD Reductions): Comments of Alaskans for Sustainab...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 202 (Rep. Merrick) & HB 37 (Rep. Wool) proposing (and in the case of HB 37, some substitute revenues to reduce the level of) cuts in the Alaska Permanent Fund Dividend (PFD).
Alaska's Fiscal Situation: Where We've Been, Where We're Headed (10.26.2019)Brad Keithley
A presentation to UAA Prof. Willie Hensley's "Alaska Policy Frontiers" seminar on October 26, 2019, on Alaska's current fiscal situation, how we got here, where we are and the options for where we go from here.
Comments in opposition to SB 199 & SB 200 (2.20.2022)Brad Keithley
The comments of Alaskans for Sustainable Budgets in opposition to Senate Finance Committee bills SB 199 & SB 200, which propose to substantially restructure and cut the Permanent Fund Dividend.
HJR1 & HB165: Comments of Alaskans for Sustainable Budgets CommentsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HJR 1 & HB165, Rep. Kreiss-Tomkin's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
HB 189 (Employment Tax for Education): Comments of Alaskans for Sustainable B...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 189, the House Ways & Means Committee bill which would establish an employment tax for education.
This presentation discusses the upcoming Federal Budget for the government of Canada. The presentation will look at the following areas:
1. Taxation
2. Program Spending
3. OAS
4. Deficits
5. Debt
6. Structural deficits
7. Raising Taxes
8. What if scenarios
HB 202 & HB 37 (Statutory PFD Reductions): Comments of Alaskans for Sustainab...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 202 (Rep. Merrick) & HB 37 (Rep. Wool) proposing (and in the case of HB 37, some substitute revenues to reduce the level of) cuts in the Alaska Permanent Fund Dividend (PFD).
Alaska's Fiscal Situation: Where We've Been, Where We're Headed (10.26.2019)Brad Keithley
A presentation to UAA Prof. Willie Hensley's "Alaska Policy Frontiers" seminar on October 26, 2019, on Alaska's current fiscal situation, how we got here, where we are and the options for where we go from here.
Comments in opposition to SB 199 & SB 200 (2.20.2022)Brad Keithley
The comments of Alaskans for Sustainable Budgets in opposition to Senate Finance Committee bills SB 199 & SB 200, which propose to substantially restructure and cut the Permanent Fund Dividend.
HJR1 & HB165: Comments of Alaskans for Sustainable Budgets CommentsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HJR 1 & HB165, Rep. Kreiss-Tomkin's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
HB 189 (Employment Tax for Education): Comments of Alaskans for Sustainable B...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 189, the House Ways & Means Committee bill which would establish an employment tax for education.
This presentation discusses the upcoming Federal Budget for the government of Canada. The presentation will look at the following areas:
1. Taxation
2. Program Spending
3. OAS
4. Deficits
5. Debt
6. Structural deficits
7. Raising Taxes
8. What if scenarios
Fred Dickson, Chief Investment Strategist for DA Davidson spoke at the Southern Oregon Business Conference on January 26, 2011. While our region has some specific challenges, it is good to hear that we are avoiding a double-dip recession and we can expect to continue a slow recovery.
CRFB - Build Back Better for Less - Oct. 15 2021CRFBGraphics
This presentation from the Committee for a Responsible Federal Budget illustrates how Congress could potentially reduce the size of the upcoming reconciliation package in a way that still accomplishes major legislative objectives.
This is a PPT that I created for a discussion of the US Federal Budget, the Deficit, and the Debt. Many of the slides are public domain items for Heritage Foundation and Concord Coalition. It led to some very good non-partisan discussions. There is hope!
A new white paper issued by consulting firm Deloitte titled, "America's newfound power: What the U.S. should do to capitalize on the shale and renewable energy revolutions". The paper makes the case that the U.S. shale revolution is not an end but mearly a means to an end--a renewal energy future. Written by Joseph Stanislaw.
Comments and Proposed Amendment of Alaskans for Sustainable Budgets on HB 306...Brad Keithley
The comments and proposed amendment of Alaskans for Sustainable Budgets on HB306 (the proposal by Reps. Johnston & Kopp permanently to implement POMV 80/20).
SJR6/SB53 (HJR7/HB73): Comments of Alaskans for Sustainable Budgets Comments ...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR6/SB53 (HJR7/HB73), the Governor's proposed Constitutional Amendments relating to the Alaska permanent fund, appropriations from the permanent fund, and the permanent fund dividend.
HFIN CS for HB69 (work draft presented 4.23.2021): Comments of Alaskans for S...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HFIN CS for HB69, the House Finance Committee's proposed committee substitute for HB69, the Governor's proposed operating budget.
Mercer Capital's Value Matters™ | Issue 1, 2022 Mercer Capital
Mercer Capital's Value Matters™, published 6 times per year, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
Biden Administration Provides Further Details on Tax PlanCBIZ, Inc.
On May 28 the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals. While final legislation could vary significantly in both the major points and the final details–reviewing this document, traditionally known as the Green Book, may assist your tax planning efforts. CBIZ National Tax Office advisors describe and comment on key business and individual provisions and identify significant omissions. Learn more.
CBIZ Commercial Real Estate Quarterly Newsletter – June 2021CBIZ, Inc.
This issue tackles two of the hottest topics for the CRE sector - what you can do to reduce the cost of property insurance and how to take advantage of the newly supercharged employee retention tax credit. Rounding out the issue is coverage of Biden’s tax plan and short takes on Q1 and Q2 CRE sector news. As an added bonus, links are provided to COVID-19 resources, on-demand webinars and additional content & business aids. Learn more.
Fred Dickson, Chief Investment Strategist for DA Davidson spoke at the Southern Oregon Business Conference on January 26, 2011. While our region has some specific challenges, it is good to hear that we are avoiding a double-dip recession and we can expect to continue a slow recovery.
CRFB - Build Back Better for Less - Oct. 15 2021CRFBGraphics
This presentation from the Committee for a Responsible Federal Budget illustrates how Congress could potentially reduce the size of the upcoming reconciliation package in a way that still accomplishes major legislative objectives.
This is a PPT that I created for a discussion of the US Federal Budget, the Deficit, and the Debt. Many of the slides are public domain items for Heritage Foundation and Concord Coalition. It led to some very good non-partisan discussions. There is hope!
A new white paper issued by consulting firm Deloitte titled, "America's newfound power: What the U.S. should do to capitalize on the shale and renewable energy revolutions". The paper makes the case that the U.S. shale revolution is not an end but mearly a means to an end--a renewal energy future. Written by Joseph Stanislaw.
Comments and Proposed Amendment of Alaskans for Sustainable Budgets on HB 306...Brad Keithley
The comments and proposed amendment of Alaskans for Sustainable Budgets on HB306 (the proposal by Reps. Johnston & Kopp permanently to implement POMV 80/20).
SJR6/SB53 (HJR7/HB73): Comments of Alaskans for Sustainable Budgets Comments ...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR6/SB53 (HJR7/HB73), the Governor's proposed Constitutional Amendments relating to the Alaska permanent fund, appropriations from the permanent fund, and the permanent fund dividend.
HFIN CS for HB69 (work draft presented 4.23.2021): Comments of Alaskans for S...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HFIN CS for HB69, the House Finance Committee's proposed committee substitute for HB69, the Governor's proposed operating budget.
Mercer Capital's Value Matters™ | Issue 1, 2022 Mercer Capital
Mercer Capital's Value Matters™, published 6 times per year, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
Biden Administration Provides Further Details on Tax PlanCBIZ, Inc.
On May 28 the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals. While final legislation could vary significantly in both the major points and the final details–reviewing this document, traditionally known as the Green Book, may assist your tax planning efforts. CBIZ National Tax Office advisors describe and comment on key business and individual provisions and identify significant omissions. Learn more.
CBIZ Commercial Real Estate Quarterly Newsletter – June 2021CBIZ, Inc.
This issue tackles two of the hottest topics for the CRE sector - what you can do to reduce the cost of property insurance and how to take advantage of the newly supercharged employee retention tax credit. Rounding out the issue is coverage of Biden’s tax plan and short takes on Q1 and Q2 CRE sector news. As an added bonus, links are provided to COVID-19 resources, on-demand webinars and additional content & business aids. Learn more.
A webinar presentation by Geoffrey Plague, Independent Sector, to the chief development officers from National Health Council member organizations. October 3, 2011
Testimony before HRES on South Central GasBrad Keithley
By invitation, we testified before the Alaska House Resources Committee on March 15, 2024, on Southcentral Gas Supply. The presentation was part of the Committee's look into the implications of the challenges currently facing Cook Inlet gas supplies.
The presentation addressed both energy and fiscal policy. Our theme was simple: " Let the market decide" and no subsidies. But if there are subsidies, they should be paid for other than through PFD cuts.
The slide-deck we used is attached here. The hearing itself is available at https://bit.ly/48YyBFf.
Presentation to Greater Fairbanks Chamber of Commerce's Government Relations ...Brad Keithley
Our September 27, 2022, presentation to the Greater Fairbanks Chamber of Commerce's Govt Relations Comm on Alaska's current fiscal situation and our views on the positions of the candidates for Alaska Governor in response.
SJR 1 (Guarantee Perm Fund Dividend): Comments of Alaskans for Sustainable Bu...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR 1, Sen. Wielechowski's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
Impact of Proposed PFDCuts on Alaska Income & Jobs (Supplement to 3.4.2021 Le...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the impact of the PFDcuts discussed there on Alaska income & jobs.
Distributional Impact of Proposed PFDCuts on Alaska Families by Income Bracke...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the distributional impact by income bracket of the level of PFDcuts discussed there.
Analysis by the Legislative Finance Division of Alaska's fiscal position: how we got here, where we are and where we are headed under various alternatives.
Upcoming Federal Fiscal Deadlines (10.20.2020)Brad Keithley
An important fact to know in thinking about federal fiscal policy is when are the upcoming "action forcing" events -- the dates on which, if Congress does not act, there are serious fiscal consequences. As part of a larger presentation the Concord Coalition's National Policy Director, Tori Gorman, recently complied a list of those dates. Here is the slide deck.
Concord Coalition: The Current US Fiscal Situation (October 2020)Brad Keithley
A chart talk from The Concord Coalition analyzing the fiscal challenges facing the US before COVID, and how the economic impact of COVID and the federal response has made that situation even more difficult.
An update by the Department of Revenue on the FY21 & 22 revenue outlook and the oil tax credit obligations reverting to the state following the Supreme Court's rejection of HB331.
Alaska's Fiscal Situation: Where We've Been, Where We're HeadedBrad Keithley
A presentation to the Alaska Interior Republicans to review Alaska's current fiscal situation, where it is headed and the various options for dealing with the continued fiscal gap.
Apr 4, 2020 Letter from Sen. Shelley Hughes to Gov. Dunleavy re: BudgetBrad Keithley
Sen. Shelley Hughes April 4, 2020 letter to Governor Dunleavy regarding transfers from the Permanent Fund Earnings Reserve Account, and Permanent Fund Dividend amounts, made as part of the FY20 and FY21 Budgets.
Restatement of LegFin 3.21.2020 Presentation Using POMV 50/50Brad Keithley
The Legislative Finance Division's 3.21.2020 presentation to SFIN blends the full POMV draw into UGF. This restates the numbers using POMV 50/50, with 50% of the POMV draw going to citizens and 50% to government.
हम आग्रह करते हैं कि जो भी सत्ता में आए, वह संविधान का पालन करे, उसकी रक्षा करे और उसे बनाए रखे।" प्रस्ताव में कुल तीन प्रमुख हस्तक्षेप और उनके तंत्र भी प्रस्तुत किए गए। पहला हस्तक्षेप स्वतंत्र मीडिया को प्रोत्साहित करके, वास्तविकता पर आधारित काउंटर नैरेटिव का निर्माण करके और सत्तारूढ़ सरकार द्वारा नियोजित मनोवैज्ञानिक हेरफेर की रणनीति का मुकाबला करके लोगों द्वारा निर्धारित कथा को बनाए रखना और उस पर कार्यकरना था।
In a May 9, 2024 paper, Juri Opitz from the University of Zurich, along with Shira Wein and Nathan Schneider form Georgetown University, discussed the importance of linguistic expertise in natural language processing (NLP) in an era dominated by large language models (LLMs).
The authors explained that while machine translation (MT) previously relied heavily on linguists, the landscape has shifted. “Linguistics is no longer front and center in the way we build NLP systems,” they said. With the emergence of LLMs, which can generate fluent text without the need for specialized modules to handle grammar or semantic coherence, the need for linguistic expertise in NLP is being questioned.
27052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Future Of Fintech In India | Evolution Of Fintech In IndiaTheUnitedIndian
Navigating the Future of Fintech in India: Insights into how AI, blockchain, and digital payments are driving unprecedented growth in India's fintech industry, redefining financial services and accessibility.
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
role of women and girls in various terror groupssadiakorobi2
Women have three distinct types of involvement: direct involvement in terrorist acts; enabling of others to commit such acts; and facilitating the disengagement of others from violent or extremist groups.
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
ys jagan mohan reddy political career, Biography.pdfVoterMood
Yeduguri Sandinti Jagan Mohan Reddy, often referred to as Y.S. Jagan Mohan Reddy, is an Indian politician who currently serves as the Chief Minister of the state of Andhra Pradesh. He was born on December 21, 1972, in Pulivendula, Andhra Pradesh, to Yeduguri Sandinti Rajasekhara Reddy (popularly known as YSR), a former Chief Minister of Andhra Pradesh, and Y.S. Vijayamma.
Welcome to the new Mizzima Weekly !
Mizzima Media Group is pleased to announce the relaunch of Mizzima Weekly. Mizzima is dedicated to helping our readers and viewers keep up to date on the latest developments in Myanmar and related to Myanmar by offering analysis and insight into the subjects that matter. Our websites and our social media channels provide readers and viewers with up-to-the-minute and up-to-date news, which we don’t necessarily need to replicate in our Mizzima Weekly magazine. But where we see a gap is in providing more analysis, insight and in-depth coverage of Myanmar, that is of particular interest to a range of readers.
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
HB 202 (HFIN): Comments of Alaskans for Sustainable Budgets
1. 5/16/2021 Gmail - Comments on HB 202
https://mail.google.com/mail/u/0?ik=d8f123d76e&view=pt&search=all&permthid=thread-a%3Ar-4727685950220184634&simpl=msg-a%3Ar-47260334… 1/2
Brad Keithley <bgkeithley@gmail.com>
Comments on HB 202
1 message
Brad Keithley <bgkeithley@gmail.com> Sun, May 16, 2021 at 7:38 AM
To: House.Finance@akleg.gov
Cc: Representative.Neal.Foster@akleg.gov, Representative.Kelly.Merrick@akleg.gov, Representative.Dan.Ortiz@akleg.gov,
Representative.Adam.Wool@akleg.gov, Representative.Bryce.Edgmon@akleg.gov,
Representative.Andy.Josephson@akleg.gov, Representative.Sara.Rasmussen@akleg.gov, "Steve Thompson (Rep)"
<Representative.Steve.Thompson@akleg.gov>, Representative.Bart.LeBon@akleg.gov,
Representative.Ben.Carpenter@akleg.gov, Representative.DeLena.Johnson@akleg.gov
On behalf of the Alaskans for Sustainable Budgets project, this is to provide our comments on HB 202. For the reasons
outlined below and in the attached, we oppose HB 202. As discussed in part III. of the attached, we believe HB37 (if
modified as proposed) offers a much better economically and more equitable alternative.
Our reasoning:
1. We have a deficit.
2. Using PFD cuts to close the deficit has the "largest adverse impact on the economy" (link at A-15) and is "by far the
costliest measure for Alaska families" (link at 1) of all of the revenue options.
3. Using PFD cuts to close the deficit also is the most regressive (link at Option C) and thus, inequitable, alternative,
pushing the bulk of the burden off on middle and lower income Alaska families.
3. Yet, HB202 proposes to close the deficit entirely through that very mechanism.
4. There are alternative ways of closing the deficit which have a much lower adverse impact on the economy, are much
less costly for Alaska families and much less regressive (inequitable). As we discuss in the attached, HB37 (as modified in
part III of the attached), offers the best approach we have seen this session.
5. House Finance should reject the "worst of" approach proposed by HB202 in favor of one that has a less adverse, lower
cost and more equitable impact.
Thank you for the opportunity to submit these comments.
Brad
Brad Keithley
Managing Director, Alaskans for Sustainable Budgets
Cell/Txt: 214-675-0038
Links: linktr.ee/bgkeithley
Mail: 645 G Street, Suite 100, No 796, Anchorage, Alaska 99501
Web: AKforSB.com
Comments on HB 202 & HB 37.pdf
335K
2. 5/14/2021 Gmail - Comments on HB 202 & HB 37
https://mail.google.com/mail/u/0?ik=d8f123d76e&view=pt&search=all&permmsgid=msg-a%3Ar-195653333765413969&simpl=msg-a%3Ar-195653333… 1/4
Brad Keithley <bgkeithley@gmail.com>
Comments on HB 202 & HB 37
Brad Keithley <bgkeithley@gmail.com> Fri, May 14, 2021 at 12:44 PM
To: House Ways and Means <House.Ways.And.Means@akleg.gov>
Cc: Representative.Ivy.Spohnholz@akleg.gov, Representative.Adam.Wool@akleg.gov, "Rep. Andy Josephson"
<Rep.Andy.Josephson@akleg.gov>, Representative.Calvin.Schrage@akleg.gov, Representative.Andi.Story@akleg.gov,
Representative.Mike.Prax@akleg.gov, Representative.David.Eastman@akleg.gov, Rose Foley <Rose.Foley@akleg.gov>
On behalf of the Alaskans for Sustainable Budgets project, this is to provide our comments on HB 202 and HB 37. For the
reasons outlined below, we oppose HB 202 and HB 37 as originally proposed. As discussed in III. below, however, we
could support HB 37, if modified as proposed in that part.
I. Introduction
Both HB 202 and HB 37 propose significant reductions to the current statutory PFD. For reference, below we compare the
PFD levels proposed by the bills, together with that proposed by the Governor this week (POMV 50/50), to the current
law baseline.
The bills propose the reductions in order to divert to government a significant portion of the revenues that otherwise
would go to Alaska families under current law. The impact is far from even across all families, however. Some would
forego a much greater percentage of their income than others. Put another way, under both bills some families would be
required to contribute more (be taxed more) - much more as a percent of their income - to pay for government than
others.
II. Distributional Impact
To assess their impact on Alaska families we have calculated by income bracket the percentage change in income
(effective tax rate) for a family of 4 under each bill. The average base income level for each bracket is taken from the
December 2020 ITEP Study (Appendix A). The percentages are calculated by adjusting the base income for the current
law PFD and applying the cuts from that current law baseline proposed by each bill.
The results for HB 202 are as follows:
3. 5/14/2021 Gmail - Comments on HB 202 & HB 37
https://mail.google.com/mail/u/0?ik=d8f123d76e&view=pt&search=all&permmsgid=msg-a%3Ar-195653333765413969&simpl=msg-a%3Ar-195653333… 2/4
As shown, the results are hugely regressive, with low income (Lower 20%) Alaska families contributing more than 10
times, middle income Alaska families more than 3 times and even upper middle income families more than double the
amount contributed by upper income families.
HB 37 is structured somewhat differently. In addition to the reduction in the PFD, the statute also proposes an income
tax which, while stated as a flat rate, is somewhat progressive in effect due to the inclusion of a standard deduction and
exclusion of the PFD from income. Nonetheless, because of the size of the proposed PFD cut, the overall impact remains
substantially regressive.
Low income (Lower 20%) Alaska families still contribute more than 7 times, middle income Alaska families nearly 3 times
and even upper middle income families nearly 2 times the amount contributed by upper income families.
As we said when we presented to the Committee earlier this session (at p. 11), not only are such results inequitable,
using PFD cuts (or in the case of HB 37, mostly PFD cuts) to close the deficit have the "largest adverse impact" of all the
various revenue options on both the overall Alaska economy and Alaska families. For that reason we oppose both HB 202
and HB 37 as written. There are much more equitable and lower impact approaches.
III. Proposed Modification of HB 37
Indeed, by amending HB 37 we believe the Committee could develop one such, more equitable/lower impact approach.
4. 5/14/2021 Gmail - Comments on HB 202 & HB 37
https://mail.google.com/mail/u/0?ik=d8f123d76e&view=pt&search=all&permmsgid=msg-a%3Ar-195653333765413969&simpl=msg-a%3Ar-195653333… 3/4
Our concern with HB 37 largely revolves around the size of the PFD cut. Reducing the size of the PFD cut (to POMV
50/50), offset by increasing the size of the tax component (to 6.5%) to maintain the same overall revenue level, would
produce a much more equitable, lower impact result.
While still regressive, the disparities between income brackets would shrink significantly. Moreover, under such a
modified approach, all income brackets other than the Top20% would see a significant reduction in their combined tax
rate from that resulting under either HB 202 or HB 37, as originally proposed.
A middle income family of 4, for example, would see their effective tax rate decline from 17.1% (HB 202) and 15.7% (HB
37, as originally proposed) to 8.0% (Modified HB 37). An upper middle income family of 4 would see their effective tax
rate decline from 12.7% (HB 202) and 10.8% (HB 37, as originally proposed) to 7.5% (Modified HB 37). Only upper
income (Top20%) families would contribute more under HB 37, as modified, than the other options, but even then they
would still be called on to contribute less than every other income bracket (the remaining 80%) is contributing.
Such a result is not only more equitable, it would substantially reduce the adverse impact of the proposed bill on both
Alaska families and the overall Alaska economy.
IV. Conclusion
For all of these reasons, we oppose HB 202 and HB 37, as originally proposed. They create a hugely regressive and
inequitable burden among Alaska families, leading to large adverse impacts on both those families and the overall
Alaska economy.
We could support HB 37, however, if amended as proposed in III. above. By substantially reducing the regressivity of the
original proposal, the bill would significantly lower the adverse impact on both Alaska families and the overall Alaska
economy.
We also note that HB 37's income based, "flat" approach is critical both to the fairness and our support of a modified bill.
Substituting a sales tax as the tax component, for example, would go in the opposite direction, increasing the
regressivity of the impact. As we noted in our earlier presentation to the Committee (at 11), after PFD cuts, "sales taxes
would be the next costliest measure for households with children." As explained in ITEP's 2017 study:
... general sales taxes tend to be regressive, impacting low- and middle-income families more heavily than high-
income families when measured as a percentage of household income. This effect comes about largely because
low- and middle-income families spend a larger fraction of their earnings on items subject to sales tax, while high-
income families direct a large share of their income into savings and investments.
HB 37's balance, as modified, depends on maintaining a flat (to slightly progressive) counterbalance to the regressivity
of the PFD cuts. Substituting a sales tax for the current tax component would simply stack one regressive approach on
5. 5/14/2021 Gmail - Comments on HB 202 & HB 37
https://mail.google.com/mail/u/0?ik=d8f123d76e&view=pt&search=all&permmsgid=msg-a%3Ar-195653333765413969&simpl=msg-a%3Ar-195653333… 4/4
top of another, doubling down on bad.
We appreciate the opportunity to submit these comments.
Brad
Brad Keithley
Managing Director, Alaskans for Sustainable Budgets
Cell/Txt: 214-675-0038
Links: linktr.ee/bgkeithley
Mail: 645 G Street, Suite 100, No 796, Anchorage, Alaska 99501
Web: AKforSB.com