Alaska Gov. Dunleavy unveils new-look dividend plan with guaranteed payments [View all]
Source: Anchorage Daily News
JUNEAU — Gov. Mike Dunleavy and leading Alaska lawmakers unveiled a new proposal Wednesday to constitutionally guarantee an annual Permanent Fund dividend and permanently cap annual transfers from the Alaska Permanent Fund to the state treasury.
Their proposal, a new constitutional amendment, would not take effect until 2023 but is intended to decisively address fiscal problem that have plagued the state since oil prices plunged in 2015.
Supporters acknowledged that it is not a complete fix. Some estimates indicate that if implemented, the plan would still leave the state with a deficit that exceeds $1 billion and approaches a quarter of the state’s general-purpose revenue.
But Dunleavy said that if the state wants to fix its long-term fiscal problems, it needs to start somewhere.
Read more: https://www.adn.com/politics/2021/05/12/alaska-gov-dunleavy-unveils-new-look-dividend-plan-with-guaranteed-payments-but-a-substantial-deficit-remains/
Full article title (didn't fit): Alaska Gov. Dunleavy unveils new-look dividend plan with guaranteed payments but a substantial deficit remains
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