I for one am frustrated with our politicians continued Permanent Fund manipulations. Gov. Jay Hammond set up the Permanent Fund, and for years, it worked, until Gov. Bill Walker changed the process and was, in my opinion, unjustly (not to be confused with legally) upheld by Alaska’s Supreme Court. Gov. Mike Dunleavy was elected largely on his stance of re-enacting Gov. Hammond’s Permanent Fund dividend distribution system. Unfortunately, cuts he proposed (which were drastic) and the Legislature of the state have opposed him on every avenue, now the state is again reworking the oil tax structure.
I for one would like to see a referendum started to accomplish the cash-out of the citizens part of the Permanent Fund. Should the state again be blessed with a windfall, such as another unknown huge oil field or gas line, the state could again implement a process for the citizens. I don’t believe this is actually a realistic option due to the fact that even I do not believe that every resident of Alaska is entitled to an equal distribution of the Permanent Fund. A distribution to be fair would have to be prorated in some way based on longevity; doing this would probably result in irreconcilable differences.
The state could implement a provision whereby certain needs would allow for a cash-out of Alaskans’ dividend. This could be based on hardship – medical, disability or loss of income — or retirement. These reasons, hardship and retirement, would probably be an easier sell to Alaskans and politicians, due to the fact that they could be prorated on the amount of years you were eligible and collected a Permanent Fund dividend. Collecting on the second option would end your right to future dividends and remove you from the current dividend system.
Randy Van Sickle
Kenai
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