Speaker Edgmon’s April 14th Newsletter: Need for Fair and Comprehensive Fiscal Plan Will Push Legislature Beyond 90 Days

Rep. Bryce Edgmon

As you can imagine, late-session events in Juneau are in full swing, and I’m afraid this week’s newsletter has to be brief. As I noted last week, the magnitude of the work we still need to accomplish this year will keep the Legislature in Juneau beyond the statutory 90-day limit that falls this Sunday. What we hope to achieve this session will create a major turning point in our young state’s history and, hopefully, put us on an upward trajectory for decades to come.

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NEWS: Alaska House Passes Major Piece of a Comprehensive Fiscal Plan

Juneau – The Alaska House of Representatives today passed a major component of the plan put forward by the members of the Alaska House Majority Coalition to fully address Alaska’s $2.7 billion funding gap. Senate Bill 26 creates a sustainable draw from the earnings of the Alaska Permanent Fund, while still paying out dividends and protecting the principle of the fund.

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NEWS: Alaska House Moves to Fix Alaska’s Flawed Oil Tax Credit System

Juneau – The Alaska House of Representatives today passed legislation to reform Alaska’s flawed and unsustainable system of oil and gas subsidies. Without changes, the State of Alaska is projected to pay out more in oil tax credits in Fiscal Year 2018 than the state will take in from production taxes. Production tax revenue used to be Alaska’s leading source of revenue.

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