My understanding is that oil companies also deduct "losses" from their taxes despite making billions of dollars a year. What a deal. The new tax structure was a bad deal from the start.  Mr. Parnell is most likely an oil executive hero with a cushy consulting job now, but i digress.  Alaska has always had a rough time fielding a legislature who did not put corporate greed ahead of Alaskan need.  The resources of Alaska should not be free for the taking by multinational corporations who fire employees at will.  We should be getting more value for the minerals that are extracted also. And we should be extracting more funds from the tourist industry.  AND we should have a an income tax.  But use the PFD for Alaskans needs not bureaucrats paychecks.