And though protecting almost $5 billion is nothing to sneeze at, Stedman says the legislature voted to squirrel away quite a bit more — but was overridden.
"Alaska Permanent Fund"
Economists say more cash aid from the state makes sense, but it may not be as simple as another PFD
While a number of economists have pushed Alaska lawmakers to bring revenues in line with spending over the past few years, many now agree that setting aside normal fiscal discipline during the pandemic is justified.
The coronavirus pandemic is devastating Alaska’s budget, and it could cost you your PFD
The Legislature approved a budget last weekend that’s predicted to drain 70% of the cash left in that savings account, the Constitutional Budget Reserve.
Senate adds $1,000 stimulus checks before sending budget back to House
Wasilla Republican Sen. Mike Shower proposed the payment as an amendment to the budget bill. Senators intend for the payments to be made immediately after the bill passes.
As Legislature looks to pass budget and coronavirus response, oil prices plummet
The state wouldn’t have enough money in the Constitutional Budget Reserve to pay the roughly $3,000 PFD using the formula in state law.
Dunleavy urges calm as a volatile economy adds to coronavirus anxiety
Coronavirus continues to upend the global economy in ways that threaten the stability of Alaska’s budget, the Alaska Permanent Fund and the state’s tourism industry.
Lawmakers, Alaska Permanent Fund trustees differ on how to protect reserve
Alaska’s legislative leaders say the state’s ability to spend down fund earnings is a political dilemma, at a time when Gov. Mike Dunleavy and some legislators want to pay back the amounts PFDs have been cut.
Dunleavy wants to pay back cuts to PFDs, but lawmakers are skeptical
Lawmakers have proposed changing the dividend formula. And Gov. Mike Dunleavy says he wants to engage in discussions about what the PFD will be in the future. But he says that doesn’t change what Alaskans should receive under the current law.
Goldman Sachs, in Arctic drilling tiff with Dunleavy, hires veteran Juneau lobbyist
After Goldman Sachs announced it would not finance oil drilling in the Arctic, Gov. Mike Dunleavy suggested he could cut off the millions of dollars a year that the state pays the Wall Street firm. Now Goldman is playing defense: Last week, it hired a Juneau lobbyist to represent its interests in Alaska.
Dunleavy, legislators search for solutions to Alaska’s budget gap
After thinking about it for a year, Gov. Mike Dunleavy says he’s not opposed to putting budget cuts to a vote of the people.