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Doogan wants to add $10 billion to Permanent Fund

  • Author: Craig Medred
  • Updated: September 27, 2016
  • Published March 17, 2011

According to an announcement from the Alaska House of Representatives Democratic Caucus, Anchorage Rep. Mike Doogan has submitted a bill (HB 194) that would transfer $10 billion from the state's Constitutional Budget Reserve Fund to the Alaska Permanent Fund. The bill was referred to the House Finance Committee, upon which Rep. Doogan serves.

"We talk a lot about fiscal conservatism here in the state Capitol," Doogan said. "I thought I'd give my colleagues -- and Governor Sean Parnell -- a chance to walk their talk."

Making reference to Governor Sean Parnell's suggestion to tap state savings to cover the loss of revenue projected if the governor's proposed oil tax changes were to take effect, Doogan said, "The way I see it, we can turn over these savings to some of the richest corporations on the planet and get nothing concrete in return, or we can protect our savings -- and increase the Permanent Fund dividend by about 25 percent."

"Not a tough choice for me. I'll be interested to hear what all these other 'fiscal conservatives' have to say."

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