Alaska is facing annual deficits of more than $3 billion – even after budget cuts of 44 percent in the past four years. Without a plan we’ll burn through our budget reserves in less than two years. The New Sustainable Alaska Plan calls for a combination of
- Spending reductions
- Sustainable use of Permanent Fund earnings
- Modest tax increases
- Oil and gas tax credit reform
Together, we can stabilize the budget and protect our economy and our way of life.