Alaska Lawmakers Approve $450M Spending

0:00Alaska lawmakers have approved $450 million in extra spending for this year's state budget. They're betting on sky-high oil prices boosted by the war in Iran to pay for it without dipping into savings. The new funds cover key areas like $70 million for transportation to match federal highway money, up to $75 million for disaster. Relief from western Alaska storms, 98 million for wildfire fighting costs, and 130 million to refill college scholarships. It also includes 77 million for agency operations and 20 million inflexible headroom. Reactions were mixed with the spending plan passing easily, 19 to 1 in the Senate, and 40 to 0 in the House. But they rejected a backup draw from the $3 billion Constitutional Budget Reserve, which needed three-quarter support. House Republicans blocked it, predicting oil revenue will hold steady. Oil from the North Slope averaged $67 a barrel early in the fiscal year, but has topped $100 for weeks now, thanks to the conflict.

1:06State analysts warned that prices below $85 for the rest of the year could force the savings poll later and made record volatility. The bill now goes to Governor Mike Dunlevy for review, aiming to kick-star summer construction and handle pressing crises before opportunity slip. Away, you've been listening to Anchorage News today, AI-powered local news.