Category - Rep. Sam Kito III

Rep. Sam Kito's newsletter

Rep. Kito’s Newsletter: Update on Governor’s vetoes & 5th special session

We all know Alaska is in a bind. Oil prices are currently stabilized, but at a relatively low level, which means that our state income from oil is now in the neighborhood of $705 million unrestricted general funds (UGF). Add in $500 million from non-petroleum revenue and we have about $1.2 billion UGF. While that sounds like a lot of money, we are looking at a General Fund budget of around $4.5 billion. This means that we have a hole of more than a $3 billion in our state budget.

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“The House Majority supports this education based income tax as one part of the solution to grow a stable economy.”

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