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Anchorage officials hear warning: state budget squeeze likely to cut dividend and push tax debates
Summary
Municipal lobbyist Wendy Chamberlain told the Assembly legislative committee the governor's plan would draw roughly $1.5 billion from the Constitutional Budget Reserve and that reducing the Permanent Fund Dividend toward about $800 could help balance the budget; oil-tax and S-corp changes are likeliest revenue options.
Wendy Chamberlain, the municipality's lobbyist, told the Assembly legislative committee on a work-session call that the governor's fiscal plan proposes a roughly $1.5 billion draw from the Constitutional Budget Reserve (CBR) and that state advisors recommend keeping about $3.0 billion in reserve for emergencies.
"If they bring the dividend down to around $800, they can balance the budget," Chamberlain said, describing one scenario that officials and fiscal analysts see as feasible without large program cuts.
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