Wrangell Sentinel -

JUNEAU, Alaska (AP) – Alaska legislators have voted to cut oil and gas drilling subsidies from the budget.

The compromise proposal was approved

late Saturday in an 18-0 vote in the Senate and a 33-6 vote in the House, the Juneau Empire reported. The move will save the state nearly $200 million per year within three years, officials have said.

Gov. Bill Walker said in a statement that the approval is a “meaningful step to shore up our financial situation.’’ But he acknowledged that “the work is not yet finished.’’

The state has a deficit of over $2 billion per year while its C...