Oil Tax Cut Proposal | Video

Jennifer Joas | 3/19/2013

The oil industry in North Dakota is a vibrant and growing field. But some legislators worry that if they don`t lower oil taxes, companies will move their capital elsewhere. That`s why the House Finance and Taxation Committee is looking at a bill that would lower the oil extraction tax by two percent in 2017.

The North Dakota Public Employees Association and Farmers Union spoke out in opposition to the bill, because they feel legislators should focus on meeting the infrastructure challenges in the west and providing property tax relief.

"We still have those problems. And so all we would ask us that can we please solve those problems, before we move into the realm of reducing the tax," said Stuart Savelkoul with the ND Public Employees Association.

Both Republicans, Democrats and interest groups alike seem to agree on the other parts of the bill which would remove any loopholes for companies not to pay takes.

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