Alaska House Republicans block draw from savings, hoping instead for war-driven oil revenue to cover supplemental budget
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By Iris Samuels
Published on March 13, 2026.
Alaska's House Republican minority members voted against approving a draw from state savings to cover $373 million in expenses in the current fiscal year. They believe that war-driven oil prices will eliminate the need for using savings, as opposed to using the Constitutional Budget Reserve, which requires approval from three-quarters of the House and Senate. The Senate voted unanimously in favor of the draw from savings, but the House failed to pass the bill. The majority argued that oil prices are volatile and there is no guarantee they will remain at their current level through the remainder of the fiscal year, which ends in June. However, an updated revenue forecast from the Alaska Department of Revenue is expected Friday. The bill passed unanimously by the House, but was returned to a committee where majority leaders said they were confident they could send a fully funded bill to the governor.
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