“Unforced error,” n. in sports [or politics], a mistake made by the player and not due to the opponent’s skill or effort.
The Governor’s announcement Wednesday of a revised FY 2014 “spending cap” of $6.78 billion — a $300 million increase over the budget he proposed in December — comes as a surprise, and not a good one. Indeed, it may somewhat serve to undermine his continuing case for oil tax reform.
As I have previously explained on these pages, restoring investor confidence in Alaska requires two things, oil tax reform and fiscal reform. Both are critical.
The case for oil tax reform has been made on these pages, in committee hearings and elsewhere. I also have made the case for fiscal reform on these pages and in hearings, but its importance bears repeating. Continue reading