Alaska legislative panel suggests state follow spending cap
January 22, 2020 12:40PM AKST
JUNEAU, Alaska (AP) – A legislative panel has failed to reach an agreement on potential changes to the Alaska Permanent Fund dividend. That leaves legislators with little guidance on how to balance the state budget. The state has struggled to balance its budget, which has a $1.5 million deficit. Legislators and Republican Gov. Mike Dunleavy must either raise taxes, cut services or reduce the Permanent Fund dividend. The Bicameral Permanent Fund Working Group’s only recommendation was that the Legislature should not violate a spending cap approved in 2018. The panel was created last year to provide policy recommendations on the fund.