Lawmakers differ with Dunleavy on state budget

Posted By TheNewsCommenter: From Washingtonexaminer.com: “Lawmakers differ with Dunleavy on state budget”. Below is an excerpt from the article.

Alaska Gov. Mike Dunleavy said he was proud of his proposed fiscal year 2023 budget, but lawmakers worry the governor is not thinking about the future.

Dunleavy said during his state of the state address that Alaska's financial situation has improved since he took office, when the budget deficit was $1.6 billion.

"Thanks in part to our fiscal restraint over the past three years, we’re on track for a budget surplus in the current fiscal year for the first time in a decade," Dunleavy said Tuesday. "Based on current trends, we could see revenue in the current year increase by more than $281 million over the fall forecast and by $466 million in the upcoming fiscal year."

State revenues are based in part on oil prices, which have increased, but those prices may not hold, lawmakers said.

Senate Minority Leader Tom Begich said in response to Dunleavy's address that basing a budget on the stock market and the volatile price of oil "is not a sustainable plan for our next generation."

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