Alaska House remains divided on whether to draw from savings amid higher revenue
Airfind news item
By Iris Samuels
Published on March 17, 2026.
The Alaska House is divided over whether to rely on war-driven oil revenue to fund state expenses without drawing from state savings. The state's Department of Revenue has issued an updated forecast predicting that the state will receive $545 million in unexpected revenue, including $370 million due to a spike in oil prices attributed to the Iran war. Despite this uncertainty, Minority Republicans argue that the new revenue forecast should be used to cover supplemental budget items without drawing funds from the Constitutional Budget Reserve, a savings account that can only be accessed with three-quarters votes in the House and Senate. However, the House majority voted not to advance the supplemental budget bill, instead waiting on more information about the oil revenue forecast and Gov. Mike Dunleavy's position.
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