By Reid J. Epstein And Zusha Elinson
An Alaska ballot measure to repeal a 2013 oil tax law that
drastically cut the amount major oil companies in the state pay was
losing early Wednesday morning.
The referendum was losing by a 52.1% to 47.9% margin, with 80%
of precincts reporting results, but it was still too close to call,
according to the Associated Press.
The No on One campaign opposed the measure to revive oil tax
policies enacted under former Gov. Sarah Palin. The state's
Republican and business establishments waged a $15 million
campaign--funded in large part by three oil companies--to defeat
the question.
Willis Lyford, a spokesman for the No on One campaign, said he
expected that the results would hold and the measure be defeated
once all the votes were counted.
Outspent by more than 15-to-1, supporters of the ballot question
wanted to revert to the old oil-tax structure that featured
progressive taxes when oil prices rose. The 2013 law backed by
state Republicans carried a flat tax on revenues.
Mrs. Palin, who favored reverting to the oil tax structure she
signed into law in 2007, wrote in favor of approving the measure on
her Facebook page and posted an 18-minute video defending her
position on her website. But she declined or ignored invitations to
appear in public on behalf of the campaign to revert to the policy
she enacted as governor.
A spokesperson for the Yes on One campaign didn't return calls
or emails seeking comment.
Write to Zusha Elinson at zusha.elinson@wsj.com
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