Many Republican legislators are pushing for a tighter cap on state spending than the limit enshrined in Alaska’s constitution more than 30 years ago.
It’s being billed as a way to restore public confidence in lawmakers’ ability to responsibly manage state dollars. But not everyone thinks it’s a good idea.
Under the existing cap, which excludes certain types of spending, this year’s budget could not exceed $10.1 billion. Current spending falls well below that.
So far, Republicans have proposed three constitutional measures aimed at restricting spending growth.
These come as lawmakers, faced with a multibillion-dollar deficit, are expected to debate deeper budget cuts, taxes and use of earnings from Alaska’s oil-wealth fund to make ends meet.
