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Tag Archives: Alaska Permanent Fund

Gov. Walker reiterates call for budget plan amid dour forecast

JUNEAU, Alaska (AP) — A dour revenue forecast brought with it a warning from Gov. Bill Walker that state legislators need to deliver a plan to address Alaska’s multibillion-dollar deficit this year or face a special session. Legislative leaders say Walker has a role to play, too, in building support for his proposals. House Speaker Mike Chenault, R-Nikiski, said it’s ...

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Alaska politicians eye sacred oil checks amid budget deficit

JUNEAU, Alaska — Alaska is facing multibillion-dollar deficits amid chronically low oil prices and relying on savings to help balance the budget. That’s not sustainable, and is leaving first-term Gov. Bill Walker with some tough choices as he drafts the next budget. One of those decisions could reduce the amount of the yearly check nearly every Alaskan receives just for ...

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Walker aims to convert Alaska Permanent Fund to endowment for funding government

JUNEAU — A new plan from Gov. Bill Walker’s administration to broadly restructure Alaska’s finances would convert the Permanent Fund into an endowment that absorbs oil income and generates billions of dollars in annual revenue for the state’s treasury, Attorney General Craig Richards announced Wednesday. The sweeping changes would insulate state government from swings in the price of oil, Richards ...

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If lawmakers agree to use the Permanent Fund to help fill budget shortfall, what method will they use?

JUNEAU — Facing tough budget choices, state leaders are looking at the Alaska Permanent Fund’s billions as one solution. That’s not a new idea. Facing a choice between income, sales or oil taxes, or cuts that could hurt schools, rural communities and a host of local and state government services, the $52 billion Permanent Fund has been seen as fiscal ...

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Most Alaskans will get record $2,072 each in oil money

ANCHORAGE, Alaska — Oil prices are so low that they are hovering at benchmarks not seen in years, plunging oil-dependent Alaska into a crippling budget deficit. But the industry’s woes won’t affect how much the state’s oil investment account pays out to Alaskans, even though the government has been scrambling to pay the bills. This year’s payout will be a ...

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Conflict lurks over property taxes for proposed Alaska gas line

JUNEAU — The North Slope Borough has become fabulously wealthy from taxes on the oil industry and its massive Prudhoe Bay infrastructure. In addition to subsidies of thousands of dollars per resident for the costs of water, sewer, lights and heat, the nation’s northernmost municipality even has its own permanent fund. At about half a billion dollars, the borough’s permanent ...

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