High oil prices may deliver more than $1 billion in unexpected revenue to the state of Alaska in the current fiscal year
JUNEAU — , and both the Alaska Legislature and Gov. Mike Dunleavy are beginning to debate whether they should save that money or spend it.
The Alaska Legislature built its budget around those amounts, but through the first six months of the fiscal year, oil has been worth significantly more. Oil isn’t the state’s leading source of revenue — an annual transfer from the Alaska Permanent Fund is larger — but the extra money promises to make a big difference.
Now, the expectation is $6 billion in revenue, and the state would have more than enough normal revenue to fill the deficit. It would be the first time in 10 years that the state has not had a deficit, according to the finance division.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana NFT total sales volume crosses $1 billionSolana-based NFTs gained traction as Ethereum experienced all-time high gas fees last year — and some even fetched millions.
Read more »
Two $1 million winning Lotto tickets sold in the Chicago areaTwo $1 million Lotto tickets were sold in the last three days in the Chicago area.
Read more »
‘Modern Family’ star Jesse Tyler Ferguson re-lists NYC home for $1.4MEmmy nominee Ferguson and his husband, Justin Mikita, a Tony Award-winning producer, first listed their home at 200 E. 16th St. in 2018.
Read more »
NASA Offers $1 Million for Systems to Feed Tomorrow’s AstronautsAs NASA prepares to send astronauts further into the cosmos than ever before, the agency aims to upgrade production of a critical fuel source: food. Giving future explorers the technology to produce nutritious, tasty, and satisfying meals on long-duration space missions.
Read more »
Top 10 US Billionaires Got $1 Billion Richer Every Day of Pandemic'Each made about the same in a single minute as the average American household earns in an entire year. This can't continue,' said 4TaxFairness.
Read more »