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Alaska Could End to Oil Checks Paid to Residents Since 1982
Source: Associated Press
Alaska Could End to Oil Checks Paid to Residents Since 1982
By MARK THIESSEN, ASSOCIATED PRESS ANCHORAGE, Alaska — Jun 29, 2016, 4:21 AM ET
As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block.
It could mean the first time in more than 30 years that most Alaskans won't get a check from the government just for living in the state.
"We'll look at every item individually and decide between now and July 1 what items get vetoed and what does not," Gov. Bill Walker, who announces budget vetoes Wednesday morning, told reporters earlier this month when asked if he would veto all or part of the $1.4 billion oil check fund appropriation sent to him in the budget by lawmakers.
[font size=1]-snip-[/font]
Alaska state government relies mostly on revenue from oil production to stay solvent. But declining production and a precipitous drop in oil prices have plagued state government, leaving Alaska with a deficit of more than $3 billion for the next budget year.
[font size=1]-snip-[/font]
By MARK THIESSEN, ASSOCIATED PRESS ANCHORAGE, Alaska — Jun 29, 2016, 4:21 AM ET
As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block.
It could mean the first time in more than 30 years that most Alaskans won't get a check from the government just for living in the state.
"We'll look at every item individually and decide between now and July 1 what items get vetoed and what does not," Gov. Bill Walker, who announces budget vetoes Wednesday morning, told reporters earlier this month when asked if he would veto all or part of the $1.4 billion oil check fund appropriation sent to him in the budget by lawmakers.
[font size=1]-snip-[/font]
Alaska state government relies mostly on revenue from oil production to stay solvent. But declining production and a precipitous drop in oil prices have plagued state government, leaving Alaska with a deficit of more than $3 billion for the next budget year.
[font size=1]-snip-[/font]
Read more: http://abcnews.go.com/US/wireStory/alaska-end-oil-checks-paid-residents-1982-40211259
