NEWS: Alaska Legislature Passes Responsible Capital Budget Compromise

Juneau – Today, the Alaska Legislature overwhelmingly passed a capital budget for Fiscal Year 2018 that will result in approximately $1.2 billion in federal funds coming to Alaska. The approved capital budget was a negotiated compromise that ensures continued funding for Alaska’s roads, bridges, and other vital infrastructure. House Finance Committee Co-chair Rep. Neal Foster (D-Nome) helped negotiate the compromise and worked to ensure passage today.

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Rep. Seaton’s July 26th Newsletter: Capital Budget alert

Rep. Paul Seaton

Greetings! Please see the below press release outlining the draft capital budget compromise between the House and Senate. Links are provided to additional documents and a summary. Once appointed, the capital budget conference committee is scheduled to meet in Juneau at 1pm Thursday, July 27 to review and vote on this draft. Should it pass the conference committee, I anticipate the bill will then move to the House and Senate floors the same day.

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NEWS: Significant Step Forward on Long-Awaited King Cove Road

Juneau – Today, the U.S. House of Representatives passed legislation sponsored by Congressman Don Young to allow a land exchange as part of the effort to build a road to connect the communities of King Cove and Cold Bay on the Alaska Peninsula. Speaker of the House Rep. Bryce Edgmon (D-Dillingham) released the following statement upon learning the results of today’s vote.

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NEWS: Coalition Working with the Governor and Senate to Quickly Pass a Capital Budget

Anchorage – With the passage of legislation last week to reform Alaska’s oil industry subsidies, the attention of the Alaska Legislature turns to the Fiscal Year 2018 Capital Budget. That budget needs to pass before the start of the federal fiscal year in October in order to prevent the loss of over a billion dollars in federal funding. The Alaska House Majority Coalition hopes to negotiate a compromise with the Alaska State Senate and Governor Walker to pass the FY 18 Capital Budget before returning lawmakers to Juneau for final action. To this end, the Co-chairs of the Finance Committees in the House and Senate have already started meeting to discuss the details of a Capital Budget compromise.

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Rep. Seaton’s July 17th Newsletter

Rep. Paul Seaton

On Saturday the House and Senate reached a compromise and passed HB 111, the oil and gas tax credit bill, and ended the second special session of the 30th legislature. The compromise takes the immediate step of ending cash credits statewide and includes some sideboards to protect the state from an unaffordable high future liability. Hopefully the public commitment that both bodies made to a working group will ensure that further oil and gas reforms will be addressed. A stable oil and gas tax system that the state can afford is key to a complete fiscal plan and this is a step in the right direction.

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