Alaska lawmakers reach tentative deal on budget, dividend

Update:

Governor Mike Dunleavy, in a social media post Sunday evening, warned that the budget deal reached by lawmakers could result in a PFD of $525. On his official Facebook page, the governor wrote “This year’s PFD could be as low as $525, one of the absolute lowest in Alaska history. This is due to budget negotiations today in the legislature. Once again the PFD is a political football subject to the whims of politicians. This is further proof we need to protect the PFD within Alaska’s constitution.”

Original story:

(AP) - Alaska budget negotiators have reached a tentative agreement on a state spending package that includes an estimated $1,100 dividend for residents this year. But the check size could be cut if the House or Senate fail to muster sufficient support surrounding use of budget reserve funds to help pay for the dividends. Dividends have typically been paid using earnings from the state’s oil-wealth fund. But the budget compromise reached Sunday would cobble together money for dividends from various pots, including a budget reserve that requires three-fourths support in each the House and Senate to tap.

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