Alaska Senate leaders have proposed what they see as key pieces for addressing the state’s multibillion-dollar deficit.
The bill, from the Senate Finance Committee, would draw from the earnings of Alaska’s oil-wealth fund based on a percentage of the fund’s market value and change how the annual dividends Alaskans receive are calculated.
It also would impose a new spending limit in state law.
Senate President Pete Kelly says the Republican-led majority currently isn’t envisioning any taxes. Leaders of the House majority, meanwhile, have seen a broad-based tax, like an income tax, as a key piece for a fiscal plan.
Two other bills proposing draws from Alaska Permanent Fund earnings are pending in the Senate.
House Speaker Bryce Edgmon says his coalition isn’t promoting a spending limit but will examine it if it’s a Senate priority.
