JUNEAU — The Alaska House Finance Committee wants to hear from citizens Wednesday about its plan to restructure the Permanent Fund and institute an income tax to help fix the state's massive budget deficit.
House Bill 115, from Reps. Paul Seaton, R-Homer, and Neal Foster, D-Nome, would give residents dividends of at least $1,250 and use investment earnings from the Permanent Fund to help pay for government services.
It would also institute a state income tax, at a rate that increases with earnings and is capped at 7 percent for people making more than $250,000 a year.
Public testimony starts from 1 p.m. to 4:30 pm. Wednesday at legislative information offices in Fairbanks, Anchorage and Juneau, and continues from 5 p.m. to 8:30 p.m. Find your local legislative information office at this link; you can also call 907-586-9085 or email your testimony to HouseFinance@akleg.gov.