Dem-NPL House and Senate members issue statement following the failure ‘radical’ and ‘reckless’ oil extraction tax bill
(BISMARCK, N.D.) – Following the failure of Senate Bill 2336 in the North Dakota House by a vote of 87 to 6, Dem-NPL caucus leaders, Senator Mac Schneider and Representative Kenton Onstad, issued the following statement:
“We welcome the defeat of the radical and reckless cut to the oil extraction tax contained in SB 2336. The people of North Dakota stood to lose billions from our one-time harvest of oil resources under the GOP majority’s proposal, and we hope the House’s action is the last gasp of any effort to reduce the extraction tax this session.
However, another deeply flawed bill that would sharply cut the oil extraction tax, HB 1234, is presently before the Senate Finance and Taxation Committee. This bill has almost no support and drew vocal opposition from the oil industry itself. Our friends in the GOP majority should move quickly to reject HB 1234 and set aside the effort to reduce the oil extraction tax once and for all.
We look forward to having this contentious issue behind us and will continue to extend a hand to the majority in a spirit of cooperation. There should now be a renewed focus on addressing the challenges to our infrastructure and quality of life that have arisen secondary to the boom while making permanent investments in our people that will pay off long after the last drop of oil has been drawn from the ground.”
SB 2336 passed the Senate 34-13 in early March.