The Alaska House majority leader says focusing on use of earnings from Alaska’s oil-wealth fund would be the “easy route” in addressing the state’s multibillion-dollar budget deficit.
Rep. Chris Tuck says Alaskans don’t want to see that happen without oil taxes also being addressed.
Rep. Tuck(D-Anc): “We’re going to be looking at further targeted reductions in our current spending, we’re going to be looking at reforms to the subsidies given to the oil and gas industry and we’re going to be looking at new revenue and find out what the most appropriate new structure is as part of our four pillar plan. Things are happening very quick, we have a lot of item on the table. It’s really important for the public to comment, we want to hear from you guys. Important decisions need to happen this year.”
Using Alaska Permanent Fund earnings to help pay for state government is seen by many as virtually a foregone conclusion.
But Tuck says the House majority, composed largely of Democrats, is pursuing a comprehensive plan and doesn’t want to burden one group over another.
Senate Majority Leader Peter Micciche has said he’d consider the session a success if lawmakers pass operating and infrastructure budgets and legislation calling for structured draws from permanent fund earnings.
He says permanent fund legislation would go far in addressing the deficit.