Alaska taps cherished oil fund to pay state expenses


Alaska will dip into its cherished oil wealth fund to pay for state govt operations for the primary time because the fund used to be arrange within the 1970s. Gov. Bill Walker signed regulation on Wednesday permitting the state to use income from the $65 billion Alaska Permanent Fund to assist pay the state’s expenses. The fund is known for its annual dividend paid to just about each and every grownup and kid in Alaska, however use of the fund for anything has lengthy been regarded as taboo.

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