Fiscal Policy Caucus Explores Options

A non-partisan coalition of state legislators organized a Fiscal Policy Caucus in March 2001 to raise public awareness of the long-term instability of Alaska's current revenue and spending patterns, and to seek support in the public and legislature for creative responses. The coalition consists of 35 Alaska legislators in both the House and Senate.

In April, a statewide survey showed 75.6 percent of Alaskans believe that there is a need right now for a long-range fiscal plan, recognizing that the plan may include revenue-raising proposals such as an income tax, use of Permanent Fund Earnings, and taxes on commodities such as alcohol or gasoline.

The Fiscal Policy Caucus met seven times during the session and had many ideas presented to them. The Caucus heard from various sources on the need for a long-range plan and how the status quo affects the state budget. Former Governor Jay Hammond told caucus members that the time to act is now; that Alaska cannot afford to take no action.

The Fiscal Policy Caucus also met with representatives of the Permanent Fund Corporation, who emphasized that the large Permanent Fund dividend that Alaskans have come to expect depends on a strong economic future for Alaska. The Caucus organized subcommittees to consider government efficiencies and new sources of revenue. In its final meeting, the Caucus met with representatives of Alaskans United to discuss interim grassroots education efforts.

Caucus members plan to present the group's ideas to the public at community meetings in their home districts. They also plan a number of larger Caucus meetings around the state, in the belief that, in order for any long-range fiscal plan to succeed, the citizens of the state of Alaska must understand and agree that there is a problem and that the time to act is now.

Those interested in learning more about the Fiscal Policy Caucus may contact their local legislator, or co-chairs Rep. Bill Hudson (R-Juneau) or Sen. Alan Austerman (R-Kodiak).

Fiscal Policy Caucus Subcommittees:

Spending Limit
Broad-based taxes
Targeted taxes
Excess Reserves/Earnings Reserve Account
Miscellaneous Revenues (land sales, AHFC)
Corporate Taxes
Economic Opportunity for Growth
Governmental Efficiencies
Coordination with Other Groups

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