The idea comes as the Anchorage Assembly is considering instituting new taxes to fill the gap left by dwindling state assistance to communities.
alaska permanent fund
“What is the goal of having quarterly payments?” asked one legislator.
While FischerMania was running wild in Juneau, here’s what happened.
Rep. Jonathan Kreiss-Tomkins says the whole discussion highlights the need to rethink the Alaska Permanent Fund in order to protect as much money from legislators as possible.
Despite approving a $3,000 dividend last week, the Senate Finance Committee is pushing ahead with reduced future dividends.
“My goal is that, and I think a goal shared by a lot of people in this body, is that we have enough money protected permanently in the permanent fund that we can continue to argue about how to spend that money 20 years from now,” said Rep. Jonathan Kreiss-Tomkins.
The plan would reduce future dividends and increase the risk the account could be zeroed out.
The proposed cuts highlight the risk with relying one Legislature to keep the promises of another.
This year legislators are facing competing, often incompatible interests. Will they take the easy way out again?
The bill restructures the permanent fund to pay for government, formalizing what the Legislature was already planning on doing. Some say it’ll act like a spending limit, others worry it’ll be easily ignored.