As Permanent Fund dividend discussions heat up amongst lawmakers, House majority and Senate majority members caution that it will be hard to fund a full PFD without dipping into reserves.
JUNEAU, Alaska - Gov. Mike Dunleavy’s roughly $3,500 Permanent Fund Dividend proposal hit strong headwinds this week, as House and Senate members publicly expressed concern the large PFD amount could mean deficit spending.includes increased funding by $680 per student under the Base Student Allocation, or BSA. Senate Finance Co-Chair Bert Stedman, R-Sitka, warned paying out a full statutory PFD, as the governor has called for, would mean a $1.3 billion budget deficit.
“I don’t think it’s a wise thing to draw from savings when you know you are more likely than not to have less revenue next year, and even 27,” Rep. Will Stapp, R- Fairbanks, said. “I personally would not be in favor of tapping state savings when I know I have less money in the next fiscal year.”resolution has not moved on the House floor since amendments were voted on Feb. 28.
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