A steady stream of state government revenue instead of relying exclusively on volatile oil markets, and $1,000 dividends for Alaskans: that's what a bill approved Wednesday by the Alaska Senate would guarantee.
Senate Bill 26 passed the GOP-controlled Senate 12 to 8 and strongly resembles the Permanent Fund restructure bill that cleared the Senate last year with the endorsement of Gov. Bill Walker but failed to pass the House.
Under the new plan, 5.25 percent of the $57.2 billion fund -- as calculated over a five-year period of time -- would be drawn annually from the earnings reserve account.
Three quarters of the money drawn out would be funneled to government, putting a significantly bigger dent in the $3 billion budget deficit than the proposals to implement an income tax and cut government spending for a third year in a row.
The remainder of the draw would go to pay dividends, which would be locked at $1,000 for three years and are expected to grow slightly thereafter.
I can't even get upset about this.
I have known this day was coming since 1982 when I received my first PFD check. Which by the way was ALSO for $1,000.
However I am in the minority in my lack of anger over this, and I well realize that the majority of my fellow Alaskans are going to want blood and that the politicians who proposed this bill, and voted on it, have seriously endangered their prospects for reelection.
On a positive note perhaps it will convince some of the parasites up here to move on to greener pastures and leave the state to the REAL Alaskans.