Alaska Governor Proposes $3,400 Oil-Wealth Dividend Amid $990M Deficit

Budget plan does not increase per-student K-12 funding, sparking disappointment among education leaders.

Alaska Governor Mike Dunleavy has proposed a budget plan that includes a $3,400 oil-wealth dividend for residents next year, using a formula that lawmakers have largely abandoned.
The budget plan does not include an increase in the per-student K-12 school funding formula, despite Dunleavy, a former educator, expecting education to be a key discussion point in the upcoming legislative session.
Dunleavy's budget proposal includes using savings to cover an estimated $990 million deficit.
The budget plan also includes funding for additional staff to address a backlog in food stamp benefits.
Education leaders have expressed disappointment that Dunleavy's proposal does not include an increase in the school funding formula.