Public testimony leaned against Gov. Bill Walker’s proposal to draw on Permanent Fund earnings to pay for state government.
Of more than 120 Alaskans who testified Tuesday, about 60 percent opposed the bill, which would cut dividend checks in half this year.
Opponents said lawmakers should explore other options, like deeper cuts to spending or oil and gas tax credits.
Fairbanks resident Aaron Lojewski noted an estimate by Institute for Social and Economic Research economists that a dividend cut would cost Alaskans more income in the short term than other budget options.
“You guys here, if you approve this, would be approving the most harmful way to fill the deficit,” Lojewski said. “So I strongly urge you not to.”
Others, like Nancy Hendrickson in Kenai, were more blunt.
“No, no, no, don’t take my money,” she said. “My money – I don’t want you taking it.”
But others said the bill would shore up state finances and the dividends in the long run.
Juneau resident Xochitl Lopez-Ayala said the bill may not be the solution, but is a step in the right direction.
“I support Senate Bill 128 because, being a recent homebuyer, as well as head of household, I look forward to a stable Alaskan economy,” she said.
The House Finance Committee heard more than three and a half hours of testimony. The committee was scheduled to discuss the bill again Wednesday.
Correction: A previous version of this story misspelled Aaron Lojewski’s name.
