HCR 13 passes the Alaska House of Representatives
JUNEAU – The most important action Alaska policymakers can take today is to protect and grow the value of the Permanent Fund for our children and grandchildren.
With this important goal in mind, members of the Alaska House Majority today passed House Concurrent Resolution 13, which reaffirms the commitment to reject any form of spending that threatens to reduce the value of the fund and establishes a goal of growing the fund’s value to $84.5 billion by 2030.
HCR 13 passed the Alaska House of Representatives 24-to-15.
“The Permanent Fund is Alaska’s greatest renewable resource,” said Rep. Jennifer Johnston, an Anchorage Republican who is a co-chair of the House Finance Committee. “Making unsustainable draws to pay for a dividend or government services we can’t afford threatens both our ability to pay dividends in the future and our ability to pay for public safety, education, and the other essential services Alaskans rely on.”
“Our goal is to grow the Permanent Fund to more than $100 billion by 2040,” House Speaker Bryce Edgmon (I-Dillingham) said. “This would enable every Alaskan to receive a healthy dividend for the foreseeable future and eliminates the uncertainty that hangs over the public servants who teach our children and keep our communities safe.”
Rep. Chuck Kopp, an Anchorage Republican and chair of the House Rules Committee said, “These last several weeks, we witnessed an incredible drop in the Permanent Fund’s value in the largest market correction since the Great Recession. This volatility underscores the importance of protecting the fund, which will undoubtedly require tough decisions and fiscal restraint.”
In addition to the passage of HCR 13, the operating budget will be debated this week on the House floor. Once budget debate concludes in the House, focus will shift to reviewing and advancing plans to protect and grow the Permanent Fund.
Alaska House Majority