I didn’t know that massively cutting public education across Alaska was so important that some legislators would threaten to jeopardize our dividend to do that.
That’s the new GOP plan. There’s a law on the books capping state oil tax credit payments in low oil revenue years. They’re supposed to be capped at $91 million next year. Instead, GOP leadership wants to give out $700 million in oil credits. Republicans are now threatening to pass a one-party budget in order to do so. They are that beholden to their sugar daddies in oil industry.
To get around negotiating, they now say they might spend nearly $5 billion from the part of the Permanent Fund Alaska uses to pay the Permanent Fund Dividend. In a few years, if the stock market doesn’t perform well, nearly depleting this account jeopardizes PFDs for all Alaskans.
Clever strategy. Terrible idea. Beyond corrupt! Wake up Alaska! This sham has got to stop. Vote them out of office.