Juneau – Speaker of the House Rep. Bryce Edgmon (D-Dillingham) has released the following statement in response to news that S&P Global Ratings has placed the State of Alaska on its CreditWatch and has indicated that Alaska’s credit rating would likely be lowered without the passage of significant fiscal reforms this year.
Good morning on this the 2nd day of the second special session. Last Thursday evening, the House passed a combined capital and operating budget in an attempt to avoid a government shutdown. Combining the two budgets was unusual, but we were running out of time in the first special session to pass the capital budget and we had not yet negotiated a successful operating budget compromise.
Juneau – Tonight, to avoid a government shutdown at the beginning of the month, the Alaska House of Representatives passed a combined Capital and Operating Budget for Fiscal Year 2018. The House budgets reverse the Senate’s $69 million cut to K-12 education and most of the cut to the University of Alaska. Additionally, the Capital Budget restored the full amount of expected Permanent Fund Dividends, which will be paid in the fall to eligible Alaskans.
Greetings from Juneau on this 26th day of the first special session of the 30th Legislature. I continue to work for a sustainable fiscal solution to our state’s declining revenue, but have had little success dealing with the Senate. We are quickly approaching the end of the first special session and if we have not passed a budget within the allowable time, the Governor may call us back into a second special session.
As the First Special Session of the 30th Alaska Legislature reaches its final week, some progress has been made to avert a government shutdown on July 3rd. But we need to have legislators willing to compromise to make that happen.
I know Alaskans are frustrated to yet again see special sessions and gridlock in Juneau. I too am frustrated; however, this may be the most critical junction in Alaska’s history and getting the right solution is paramount. Although both the House and Senate have not been holding a lot of floor sessions, I can assure you that we are working hard negotiating and seeking middle ground to reach a compromise.
On Monday, June 5, Gov. Walker pitched a plan to bridge the House-Senate gap on special session bills. The House and Alaskans would do most of the compromising, while the Senate would mostly get their way.
We are in the final third of the special session called by Governor Walker on May 18th to focus on solutions to Alaska’s fiscal crisis. These past five months in Juneau have not been easy: we are grappling with historic choices brought on by a fundamental shift in the economics of oil. Thankfully, the pace of progress has quickened as of late:
