The Associated Press reports that “amid a fog of conflicting claims, Alaskans head to the polls Tuesday to decide if the state’s old system for taxing oil companies, passed in 2007 after some lawmakers were suspected of bribery, is better than the new system, a tax cut passed last year to try to attract investment from petroleum companies.”  

“Ballot Measure No. 1 asks voters if they want to reject the 2013 law that supporters have dubbed the “More Alaska Production Act.” Advocated by Gov. Sean Parnell, it replaced the production tax known as “Alaska’s Clear and Equitable Share,” or ACES, that was championed by former Gov. Sarah Palin.”  

“Critics call ACES an investment killer. It gave tax credits for investment but included a progressive surcharge that companies said ate too deeply into profits, discouraging new investment.”