Alaska owes public workers $6.6 billion more in pensions than it has in assets.
Current state law allows the Gov. Bill Walker’s administration to sell up to $5 billion in bonds, but the Legislature needs to appropriate that money. The bill would reduce that amount to $1.5 billion. But it signals that at least some lawmakers could support an appropriation in the future.
Sen. Anna MacKinnon, an Eagle River Republican, said the bill is a compromise for senators and House members.
“There are some in both bodies that thought we should eliminate all possibility of borrowing,” she said.
The bonds would essentially be low-interest debt. The state could use that money to invest. If investment returns were higher than the bonds’ rate, the state would save money.
The House passed the bill on Saturday and the Senate agreed Monday to changes the House made.
- An investigation by the Centers for Disease Control and Prevention and the U.S. Food and Drug Administration found that the drug Kratom caused nearly 200 cases of salmonella in 41 states — including two Alaska cases. The outbreak occurred between January 2017 and May 2018.
- Cohen, who described himself in past as Trump's "pit bull," became well-known for his elbow-throwing and sometimes full-on threats as he worked to move the ball forward for Trump or protect him.
- Descendants of the Native people of Attu want permanent access to their ancestral home that they've been separated from their homeland since World War II.
- Jurors concluded that Donald Trump's former campaign chairman was guilty of eight of the 18 counts with which he had been charged.