Alaska: Are We the Waiting?

Abstract

Author(s): Wright, Glenn | Abstract: In the wake of 2014’s global collapse in oil prices, Alaska continues to struggle with a hugedeficit. Fortunately, the state has over $60 billion in savings to finance its fiscal gap, but Alaskanscontinue to fight over the need for spending cuts and new taxes. Outside of state governmentrevenue, Alaska’s economy remains relatively unaffected by low oil prices, and the state’sreserve funds are growing. So far, though, Alaska’s legislature has not generated a coherent solutionto the state’s unbalanced budget for the long term.