WRANGELL – Alaska’s 30th Legislature convened for its new session on Tuesday, with the state’s finances presenting a daunting challenge for the next 90 days.
The spending deficit is projected at around $3.1 billion this year if the budget is left as-is. Agency spending has come to just over 13-percent since FY15, and the budget as a whole has taken a 29-percent cut when capital projects and other funding is considered. Revenue has failed to cover operating expenses since FY13, but has covered an ever-dwindling proportion since. This year the $1.2 billion the state expects to get in revenues wo...
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