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Gov. Dunleavy unveils proposed budget which includes full PFD and $1.5B deficit

Governor Mike Dunleavy of Alaska has introduced a proposed state budget that includes a full Permanent Fund Dividend (PFD) payment, which would amount to approximately $3,400 per eligible Alaskan. This proposal, however, comes with a significant $1.5 billion deficit, as the state's revenue from oil and other sources falls short of covering both government services and the PFD. The budget also includes a $300 million deposit into the Constitutional Budget Reserve (CBR) to manage future financial stability. Critics argue that this approach could lead to unsustainable spending, potentially necessitating future budget cuts or tax increases. The proposal has sparked debate over the balance between providing direct payments to residents and maintaining fiscal responsibility, especially given the state's reliance on volatile oil revenues.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/gov-dunleavy-unveils-proposed-budget-which-includes-full-pfd-and-1-5b-deficit/ar-AA1vM1yD ]