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Senator Sean Parnell Portrait of Senate Finance Co-Chair, Senator John Torgerson

Senator Sean Parnell
State Capitol, Room 518
Juneau, AK 99801-1182
Phone: (907) 465-2995
Fax: (907) 465-6592
Send E-Mail

Senator John Torgerson
State Capitol, Room 516
Juneau, AK 99801-1182
Phone: (907) 465-2828
Fax: (907) 465-4779
Send E-Mail

Senate Finance Committee Hears Long-Range Funding Options

For Immediate Release: March 30, 1999
Contact: Senator John Torgerson at (907) 465-2828
Senator Sean Parnell at (907) 465-2995 or

Juneau -- In an effort to find a resolution to the state's $1.2 billion dollar fiscal gap, and to formulate a long-term fiscal plan, the Senate Finance Committee today continued hearing proposals on long-range funding options.

Finance Committee Co-Chairs Senator Sean Parnell (R-Anchorage) and Senator John Torgerson (R-Kasilof) both have comments on the Senate Actuality Line at 1-800-478-6540.

Senator John Torgerson: "In our continuing efforts to come up with a balanced budget plan, today Senate Finance Committee members heard presentations from Senator Tim Kelly (R-Anchorage) and Senator Robin Taylor (R-Wrangell) outlining plan ideas they would like the legislature to consider. Senator Kelly's plan would dedicate money from the Permanent Fund Earnings Reserve toward education.

"Senator Taylor brought forward his opinions on selling non-oil resources within our state. He told committee members that Alaska should be more aggressive in making land and timber sales, finding further budget cuts and consolidations and privatizing some state services.

"We also heard a presentation from the Alaska Municipal League and the Alaska Conference of Mayors. Mike Navarre, Kenai Peninsula Borough Mayor, who spoke on behalf of the organizations, said they would like to be a part of the discussions that lead to a solution. They hope to be at the table and said they will help get the word out to the general public.

"Finally, Mr. Roger Cremo presented his plan to the committee. Mr. Cremo's plan calls for forming an endowment from all the state's resources and using the earnings from the endowment to fund state government and dividends.

"All of these plans and ideas have merits. The Senate Finance Committee, and the rest of the legislature, will continue our efforts in the coming weeks to hear further ideas from the general public.

Senator Sean Parnell: "In the next two to three weeks I believe several plans will emerge as favorites in the Senate. We will evaluate all proposals against common assumptions including the rate of inflation, oil price and production, population growth etc. It is our responsibility to present a long-range fiscal plan to the public-at least that's what I'm pushing for in the Senate Finance Committee.

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Broadcasters note: Audio comments are available on the Majority Actuality line, 1-800-478-6540
= John Torgerson, 125 K = Sean Parnell, 28 K

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