The income tax they propose will about cover the oil tax credits.

They are taxing us to pay oil companies.

We can easily cut the tax credits.

Then, they can return to our fair share of oil profits which will bring in over $3 Billion and there will be no budget crisis.

In the meantime, they can collect the billions owed from oil company audits after they were caught inflating costs
https://www.adn.com/business-economy/2017/02/05/energy-royalty-audits-and-adjustments-brought-alaska-an-additional-117-million-in-2016/

and collect the money owed after they were caught double dipping on tax credits
https://www.adn.com/politics/2017/04/06/tax-rules-not-politics-delay-state-revenue-forecast-alaska-official-says/