Alaska House Votes To Restore Full $2,000 PFD Payout
The Alaska House of Representatives passed a measure Wednesday that restore this year’s Permanent Fund Dividend payout to just over $2,000.
The vote amended the state budget to set aside $1.5 billion dollars, compared to the Senate’s proposal of $700 million, which would give Alaskans a $1,000 PFD payout.
The 26-14 passage of the vote is in clear opposition to the Senate's plans to subsidize and cap the PFD, using the remainder of funds to cover state expenses.
The House has pushed for a larger PFD amount this session, while trying to implement a state tax plan to cover the majority of the state’s budget deficit.
The Senate has strongly opposed a state tax plan throughout this year's legislative session.
A recent report by UAA economist, Gunnar Knapp, shows that a cut to PFD's will hurt lower and middle income Alaskans the most, while a state tax plan would pull state funds from all tax brackets more evenly.
Governor Walker still holds the power to veto this amendment and move this year’s PFD amount back to $1,000.