Alaska Budget Recommendations, 1994

DATE STUDY OVERALL SUMMARY ASSUMPTIONS RECOMMENDATIONS CHAIRS

October 1994 Breaking the Fall: Budget Recommendations for Alaska Development of a long-term financial plan that will compensate for declining oil revenues. This plan would be developed by a citizen-based commission. Recommendations: cut spending, increase revenues, get a plan via the creation of an Alaska Finance Commission. 1. Declining oil revenues are bringing Alaska's state government closer to a financial crisis.
2. The state currently faces a $1 billion budget deficit. 1. Freeze the operating budget and hold future budgets below inflation.
2. Increase taxes including a personal income tax.
3. Create an Alaska Finance Commisssion to produce a 4-year plan.
4. Encourage increased oil and gas exploration and development.
5. Establish a consolidated account for existing reserves with restrictive access provisions. Lee Gorsuch

Commonwealth North Reports

Commonwealth North

DATE	STUDY	OVERALL SUMMARY	ASSUMPTIONS	RECOMMENDATIONS	CHAIRS
October 1994	Breaking the Fall: Budget Recommendations for Alaska	Development of a long-term financial plan that will compensate for declining oil revenues. This plan would be developed by a citizen-based commission. Recommendations: cut spending, increase revenues, get a plan via the creation of an Alaska Finance Commission.	1. Declining oil revenues are bringing Alaska's state government closer to a financial crisis. 2. The state currently faces a $1 billion budget deficit.	1. Freeze the operating budget and hold future budgets below inflation. 2. Increase taxes including a personal income tax. 3. Create an Alaska Finance Commisssion to produce a 4-year plan. 4. Encourage increased oil and gas exploration and development. 5. Establish a consolidated account for existing reserves with restrictive access provisions.	Lee Gorsuch