Rep. Seaton’s April 24th Newsletter

Rep. Paul Seaton

Greetings from Juneau this 98th day of session. I am pleased to share that the Senate Labor & Commerce committee has scheduled hearings for HB 115 Education Funding Act-School Tax every day this week starting Tuesday. As the governor noted in his recent press conference, a broad-based tax is necessary for a balanced fiscal solution.

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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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NEWS: Responsible Budget Passes the Alaska House of Representatives

JUNEAU – The Alaska House of Representatives today formally passed a fully funded operating budget for Fiscal Year 2018 that ensures the delivery of essential services and protects the Alaska economy. The $5.1 billion General Fund operating budget reduces spending on agency and statewide operations by a net of $82.5 million compared to the 2017 budget, even after Governor Bill Walker’s vetoes.

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NEWS: House Finance Committee Introduces Fiscal Framework

Juneau – Today, the House Finance committee introduced House Bill 115, the State Revenue Restructuring Act, which combines revenue from the earnings of the Permanent Fund and a progressive income tax to establish a stable and balanced revenue stream fair to all Alaskans.

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