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House rejects efforts to cap oil tax credit payments at $500 million

2015-05-29 08:48:35| Oil & Gas - Topix.net

The Alaska House rejected Democratic efforts Thursday to cap state spending on oil company tax credits at $500 million, as majority members argued that deferring $200 million or more in cash payments for even a few months could harm small oil and gas companies that need the cash. "I want to be very clear, this money is not going to the Big 3," said Rep. Craig Johnson, R-Anchorage, referring to BP, ConocoPhillips and Exxon Mobil.

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