Comment Letter:
Support of HB110 - Julia Bosma (via email)

Julia Bosma
Sent: Friday, February 18, 2011 1:35 PM
To: Rep.Lindsey.Holmes@legis.state.ak.us
Subject: Support for HB 110

Dear Ms. Holmes,

I am writing to you in support of HB 110 and urge you to support its passage. I am concerned that the annual production decline in North Slope oil that we are experiencing could lead to TAPS becoming non-functional within a few years. Our economy is very dependent on oil revenues. How would the state pay for essential public services and meet long-term obligations if this were to happen?

Although lower tax rates could reduce revenue flowing into state coffers in the short term, in the long term this reduction will make the state a more desirable place to invest, which ultimately will lead to higher revenues.

I recently moved to Alaska (about 1.5 years ago) and was intending to purchase a home here. However, given the uncertainty of the future of our oil-dependent economy - due to high taxes, declining exploration, and an unfriendly regulatory and permitting environment - I have decided to rent instead. A home purchase is a major investment and I feel there is too much risk that I would not be able to recoup my investment. Although I have purchased many homes over the years, this is one place where I just do not feel comfortable making that investment.

Again, I urge you to pass HB 110 and help keep our economy strong.

Julia Bosma

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