The Alaska House has advanced the operating budget to the Senate, including a $2,300 Permanent Fund dividend and $175 million in extra one-time school funding. The budget has caused concerns about a potential deficit due to unaccounted legislation and state infrastructure spending.
Rep. DeLena Johnson, R-Palmer, speaks about the House 's operating budget before it advanced to the Senate on Thursday, April 11, 2024 in Juneau."The word of the day is 'compromise,'" she said.
“We have a balanced budget and the word of the day is ‘compromise,’” said Palmer Republican Rep. DeLena Johnson, who manages the operating budget in the House. “Good compromise is reached when no one is particularly happy with the final product.”Taking into account the expected size of the capital budget, expenditures on energy and required elements yet to be calculated, “this budget is hundreds of millions of dollars out of balance,” said Rep. Cliff Groh, an Anchorage Democrat.
The roughly $2,300 House dividend would cost roughly $1.5 billion. It is the largest single spending item in the House spending plan, and was cobbled together from a variety of sources: earnings from the Permanent Fund, a revenue surplus from the current fiscal year, and money the Legislature intended to deposit in state savings last year.
Alaska is the only state that levies neither a statewide income tax nor a statewide sales tax while still paying its residents an annual check.
Alaska House Operating Budget Senate Permanent Fund Dividend School Funding Deficit Legislation State Infrastructure Spending
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