Alaska Lawmakers Negotiate $373M Budget

0:00On this March 19th in Anchorage, here's what is making headlines. Alaska lawmakers in the House and Senate are kicking off negotiations Thursday on a $373 million supplemental budget. Requested by Governor Mike Dunlebi, a six-member conference committee was appointed yesterday to hash out the deal after the bill passed the Senate unanimously but hit a wall in the House. The funding covers key areas like $70 million for transportation projects, $80 million for disaster recovery, $98 million for wildfire suppression, and $130 million for higher education scholarships. House Minority Republicans blocked the bill last week, refusing to tap the Constitutional Budget Reserve savings account, which needs three quarters. Approval from both chambers. Instead, they pushed to use surplus revenue from unexpectedly high oil prices fueled by global tensions. Oil from the North Slope hit $104 per barrel Monday, well above the state's projected $91 average for the fiscal year.

1:04Legislative budget experts warned that while current forecasts might cover the extras, prices can swing fast in derail plans. The committee includes members from both parties and chambers aiming for a compromise like a backup savings draw if revenues fall short. Mallmaker stressed the need for long-term revenue fixes beyond relying on oil spikes. The Daily News Now is made possible with support from our sponsor. What is cooler than cool? A pillow that plays your sound. S-O-L-I, solelypillow.com.