The Latest: Industry group head: stable policies important

The president of the Alaska Oil and Gas Association says it's important to the industry that the state has competitive, stable and predictable fiscal policies.

In a statement, Kara Moriarty says increasing taxes and removing important incentives won't lead to more oil production.

Gov. Bill Walker is proposing an increase in the minimum floor for oil and gas production taxes and changing the oil tax credit program.

Senate Minority Leader Berta Gardner says she agrees with Walker's sense of urgency to make a sustainable budget plan.

Gov. Bill Walker's budget plan includes an income tax to help plug Alaska's multibillion-dollar budget deficit.

Gov. Bill Walker warns that Alaska's popular dividend program is in danger of ending if no steps are taken to address the state's multibillion-dollar budget deficit.

Alaska Gov. Bill Walker is proposing reinstituting a state income tax for the first time in 35 years as Alaska struggles with a multibillion-dollar budget deficit amid chronically low oil prices.