Category - Rep. Sam Kito III

Rep. Sam Kito's newsletter

Rep. Kito’s Newsletter: End of 5th special session

On Wednesday, the House sent a letter to the Senate inviting them to join us in a joint session on Friday to review the Governor’s budget vetoes – Friday being the last day for the Legislature to vote to override any of the Governor’s decisions. The Senate declined the invitation, effectively allowing the vetoes to stand. On Friday, after a week of few public meetings or hearings, the House adjourned, sine die, thus ending the 5th special session.

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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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