The Alaska Legislature is considering a roughly $200 million draw from savings to address a deficit for the fiscal year that ends June 30. That would still leave lawmakers with an additional gap of several hundred million dollars in the budget year that starts July 1.
Declining oil revenue has helped balloon the state’s deficit. That’s due to lower-than-expected oil prices and an increase in oil company expense deductions for investments in new fields.
In total, the Legislature is facing a roughly $680 million deficit over two fiscal years based on status quo spending, according to the nonpart...
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