Alaska's Budget Crunch: Time for New Taxes?

0:00It's March 30th. Welcome to Anchorage News Today, powered by AI. I'm Cory with the story. Alaska is facing a budget crunch, and folks are stepping up to say it's time to bring back taxes. The state ditched income tax back in 1980, leading hard on oil money, permanent fund dividends, and federal cash. Now, with services stretched thin, leaders are pushing bills like House Bill 263 for operating funds and House Bill 374 or 2. Boost school money. That shift comes as oil prices spike temporarily, but experts warn it's no long-term fix. Without steady revenue, essentials like public safety, food banks, foster care, and caregiver support are falling short. The permanent fund helped for years, but an entitlement vibe has grown, and it's not sustainable. At recent town halls and hearings, everyday Alaskan's voice support for paying more to keep things running. Education's hit hardest. Teachers are burning out from bigger classes, weak retirement plans, and low pay.

1:02Top educators, even teacher of the year winners from Anchorage, are packing up and leaving, draining talent from classrooms. Two standout teachers who grew up here and raised families locally just quit after decades, citing endless demands and no backup. Kids today miss out on sports, arts, music, special ed, and smaller classes that past generations got. Lawmakers need to hike the base student allocation, tie it to inflation, and make it stick. Leaders must pass these bills fast, override any vetoes, and lock in new revenue like a progressive income tax, S Corp taxes, and online sales levies. Alaska can reclaim its shine for the next generation by investing now before the oil bump fades.