Over the next several months, there’ll be lots of back-and-forth with legislators before they pass their own version.
Gov. Mike Dunleavy, R-Alaska, speaks during a press conference introducing his budget for the next fiscal year on Dec. 12, 2024.
Nearly 60% of the state’s revenue comes from the annual 5% transfer from the Alaska Permanent Fund. And as usual, the biggest single expense is the Permanent Fund dividend. But the flip side of that is, there are some gaping holes in the budget. At the end of the day, it’s a deficit budget. It calls for spending more than $1.5 billion from the Constitutional Budget Reserve. That’s more than half of the current balance of the savings account.
“The resource production in the state can more than pay for our way if we consummate great policy as we move forward,” Dunleavy said.
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