Permanent Fund money is required because Alaska, alone among the 50 states, has no general tax. Or maybe because Alaska has an excessively expensive state government. Or maybe both.
The story headlined “PFD dividend enshrinement proposal fails to clear House,” in Friday’s paper stated that a dividend payment calculated according to the 1982 statute, “would require spending over $1 billion more than the state has in revenue.”
This is incorrect. The earnings of the Permanent Fund are state revenue and are available for appropriation. Payment of the statutory dividend may be foolish or wise, but such a payment does not require spending more than the state has in revenue. What it does require is spending money that legislators and the governor are counting on to support state government. to submit via any web browser. Letters under 200 words have the best chance of being published. Writers should disclose any personal or professional connections with the subjects of their letters. Letters are edited for accuracy, clarity and length.
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Alaska House Rejects Proposal to Enshrine Permanent Fund Dividend in ConstitutionA proposal to include the Permanent Fund dividend in the Alaska Constitution was rejected by the House. The dividend formula, which has not been followed since 2016, would require spending over $1 billion more than the state's revenue.
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Alaska House Advances Operating Budget with Permanent Fund Dividend and School FundingThe 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.
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Some Juneau city staff will move to Alaska Permanent Fund buildingCity leaders say construction at the Municipal Way office building has been too disruptive.
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Sunday is the deadline to file for 2024’s Alaska Permanent Fund dividendAlaskans have until 11:59 p.m. Sunday to apply online. State PFD Division offices in Anchorage, Fairbanks and Juneau close at 4 p.m. Friday.
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Texas Permanent School Fund pulls $8.5B from BlackRockBlackRock will likely lose out on millions in management fees, while the state will need to find another investment that could match the firm's returns.
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Sunday is the last day Alaskans can apply for their 2024 Permanent Fund dividendLast year’s check was $1,312. This year’s PFD amount is still under discussion in Juneau.
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