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How Energy States Could Better Weather the Boom-and-Bost Cycle
Governing: Following a sharp decline in oil severance tax revenues, Alaska lawmakers are considering bringing back the state’s personal income tax for the first time in nearly four decades to help close an estimated $4 billion budget deficit. Earlier this year, North Dakota Gov. Jack Dalrymple similarly ordered 4 percent budget cuts for most state agencies to make up for a $1 billion shortfall. In Louisiana, which had its credit ratings downgraded by two rating agencies, lawmakers are debating several proposed cuts and tax increases to balance the budget.
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