Between the time we filed to run for office and the day we were sworn in, oil prices dropped in half, taking with it most of our state’s revenue.
When your income falls in half, you have to take stock of your spending. Working with lawmakers, we cut the budget by 19 percent – just about a billion dollars – and more cuts are coming this year.
But we could cut every single State employee who’s paid with general funds, and it would still not close the budget gap. Revenue from a natural gas project – one of our highest priorities – is a decade away. Oil prices aren’t expected to save us this time. We need to find a way to have a sustainable budget and replace some of the lost revenue.
We believe every challenge is an opportunity. With that in mind, and based on feedback from thousands of Alaskans – through our budget survey, sustainable future conversations, and meetings around the state – we’ve developed the New Sustainable Alaska Plan.
The plan balances and stabilizes State revenues and spending, protects our economy, and balances Alaska’s budget through a combination of
- Spending cuts
- Wise use of our State’s wealth
- Contributions from a broad range of industries and individuals, including out-of-state workers, through modest tax increases
This website will provide more information about each aspect of the proposal. We welcome your feedback and participation in the coming discussions. Please email us at email@example.com or visit our website to learn more.
Alaska has great strengths. We have vast untapped natural resources. We have prodigious savings. The U.S. Chamber of Commerce Foundation recently ranked Alaska second in the nation for business climate. Our individual tax burden is lowest in the nation.
We have the tools to solve our budget challenge and create a bright future. This is only a crisis if we fail to act.
When we come to work each day, we are motivated by appreciation for all this state has given us and our families, and by our fervent wish that our grandchildren and yours will have the same opportunities in this beautiful, God-given state we call home.
With warm regards,
Governor Bill Walker
Lt. Governor Byron Mallott