The Latest: Industry group head: stable policies important

Two people walk past a sign heading into a news conference held by Alaska Gov. Bill Walker on Wednesday, Dec. 9, 2015, in Anchorage, Alaska. Walker unveiled his plan to close a $3.5 billion gap in the state budget, including instituting a state income tax for the first time since 1980. (AP Photo/Mark Thiessen) Two people walk past a sign heading into a news conference held by Alaska Gov. Bill Walker on Wednesday, Dec. 9, 2015, in Anchorage, Alaska. Walker unveiled his plan to close a $3.5 billion gap in the state budget, including instituting a state income tax for the first time since 1980. (AP Photo/Mark Thiessen)

By Associated Press December 9, 2015 4 min read

JUNEAU, Alaska (AP) – The latest on Alaska Gov. Bill Walker’s budget proposal (all times local):

4:35 p.m.

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. That’s part of an overall budget plan that includes tax increases for other industries and a state income tax.