The Alaska State Legislature is gearing up to hold the 2nd regular session on January 18, 2022. 2021 proved to be a tumultuous year for state legislators as they met for four special sessions as lawmakers hammered out the dividend bill and the budget. Gov. Mike Dunleavy’s budget package for FY23 includes $1.7 billion for a 2022 PFD payment of $2,564 to all eligible Alaskans, which reflects the proposed 50/50 plan; $795.6 million to fund the remainder of the 2021 PFD using the 50/50 plan; and does not exceed the 5% POMV draw for the 2022 PFD or the 2021 remainder PFD.
Senate President Peter Micciche, in speaking with KSRM, speaks on the 50/50 plan:
“I think the economics have improved that if you think about the earnings growth of the permanent fund now, and you think about us having a spending limit that keeps our government growth down to inflation, the numbers get better every year. We can afford a 50/50. It may take a year or two to get that across the finish line, but the reality of it is, the way the math works, once we’re there, we’re there. If you control the growth of government to Anchorage CPI, the actual cost of inflation in Alaska, and you look at the earnings of the permanent fund, which has been 8.9% since inception, the most conservative numbers make the math work. That’s the point we’re trying to get across to people. I don’t think we have to task Alaskans to get a plan across the finish line, but we’ll see what the others feel the ten more that have to vote with me and the 21 house members that have to vote, but I think the governor is on board. He’s had a 50/50 plan for the last couple of years, and I know he ran on a full PFD, but the reality of it is, the votes aren’t there because the math has been difficult.”
Micciche states that for the legislature to move forward, the PFD issue needs to be resolved:
“My goal is to solve it this year and trying to gather those 11 senate votes, 21 house votes and the governor’s support. I support his 50/50 plan. we’re trying to get the others to kind of come along and say, ‘Okay, I’m willing to give this up to make that happen, but you have to see my way on this other thing.’ It’s just how politics works when you’re trying to get 11, 21 and the governor’s signature.”
Micciche says that he supports the governor’s 50/50 plan
