Finance Committee Will Spend the Week Examining Alaska’s Fiscal Dilemma

FOR IMMEDIATE RELEASE
May 1, 2017

Juneau – The members of the Finance Committee in the Alaska House of Representatives will spend all week examining Alaska’s fiscal policy and how policy changes will impact the Alaska economy. The committee will hear from business, municipal, labor, and tribal representatives in addition to presentations from the Alaska Department of Revenue and the non-partisan Legislative Finance Division.

“Our Coalition has developed and passed a sustainable fiscal plan that responds to the ongoing recession and the structural issues with our revenue stream that have resulted in massive yearly deficits,” said House Finance Committee Co-chair Rep. Paul Seaton (R-Homer). “This weeklong series of meetings will allow us to compare and contrast the competing fiscal plans that have passed the House and Senate. I am excited to hear from stakeholders from across the state this week to see if indeed our plan is the best choice. I believe it is because it’s complete, comprehensive, and fair.”

The weeklong series of meetings will begin today at 1:30 with presentations from David Teal, the Director of the Legislative Finance Division, and Carl Davis with the Institute of Taxation and Economic Development, which recently released a new study comparing the distributional impacts of the revenue options being considered as part of the competing fiscal plans in the Alaska Legislature. On Tuesday, the House Finance Committee will hear from several non-profit and tribal leaders, followed by a meeting on Wednesday that will feature business, municipal, and labor leaders. On Thursday, the members of the House Finance Committee will receive a presentation from Randy Hoffbeck, the Commissioner of the Alaska Department of Revenue. Friday’s meeting will feature presentations from Northern Economics and Carolyn Schultz with the Office of the Governor.

“We cannot afford to have a partial solution that will continue the unhealthy economic uncertainty that has deepened the recession,” said House Finance Committee Co-chair Rep. Neal Foster (D-Nome). “As we approach the deadline to make some monumental financial decisions, we need Alaskans to be informed and involved. Once the members of the House and Senate, the Governor, and all Alaskans can get on the same page and focus on solutions, we can ensure a stable financial future for the state we all call home.”

This week’s House Finance Committee hearings focused on the economy and Alaska’s fiscal policy will be streamed live on the Alaska Legislature’s website and on 360 North.

For more information, please contact Alaska House Majority Coalition Press Secretary Mike Mason at (907) 444-0889.

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