Out running an errand now, but the #akleg fiscal working group is underway with today’s hearing with Revenue Commissioner Lucinda Mahoney. Sounds like it’ll be more focus on the constitutional amendment (the one they’re gonna spend $250k on).
Watch here: akleg.gov/includes/_play…
Watch here: akleg.gov/includes/_play…
Sounds like they’ve got some new fiscal model to debut today.
So far, Mahoney is talking about consistency in the size of the dividend… something that the PFD has never had (and also opposed by some far-right folks who few like it’d turn the PFD into an entitlement)
So far, Mahoney is talking about consistency in the size of the dividend… something that the PFD has never had (and also opposed by some far-right folks who few like it’d turn the PFD into an entitlement)
Sen. Hughes says maybe actually the PFD has been historically steady if you apply inflation.
Surprise. The administration’s forecast is rosy with seemingly no downside and therefore everything works perfectly.
Sen. Kiehl points that out. Mahoney says if he wants to be more pessimistic about the future returns, then he’s welcome to play around with the model.
Sen. Kiehl points that out. Mahoney says if he wants to be more pessimistic about the future returns, then he’s welcome to play around with the model.
The updated model sounds like it’s at least no longer assuming $200m in cuts will magically appear.
That leaves a deficit of $700 million next year that grows after that.
That leaves a deficit of $700 million next year that grows after that.
The plan also assumes 1.5% inflation. Mahoney says if they think it’ll be higher, then they can try it out on the model on their own.
They’re not proposing any actual solutions to this plan. No more bridge funding, no more magical cuts, no more mystery revenue.
Instead, it’s a $700M+ deficit but you get your 50-50 PFD.
Instead, it’s a $700M+ deficit but you get your 50-50 PFD.
They’re getting into the revenues “ the governor would support if it also has the support of the Legislature” which is a first.
Some are
-Reduce the per barrel credit
-corporate income tax on pass thru oil companies (Hilcorp)
-sales tax
-gambling
-overdraw permanent fund
#akleg
Some are
-Reduce the per barrel credit
-corporate income tax on pass thru oil companies (Hilcorp)
-sales tax
-gambling
-overdraw permanent fund
#akleg
We’ll I’ll give em some credit for getting creative. A lot of talk right now about monetizing Alaska land as carbon offsets as more carbon taxes come online.
Just got home in time for them to have a technical glitch that has put the meeting on hold. At least there's plenty of time to fiddle around with the smoker (hey, turns out it works a lot better if I'm not constantly open it to peek at the salmon)
Oh weird. I was able to keep listening to the hearing with the app on my phone but it looks like akleg.gov is currently down. Stream has also since died, too.
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