Session: State Capitol, Room 24 Juneau, AK 99801-1182 Phone: (907) 465-2186 Fax: (907) 465-3818 Interim: 600 East Railroad Avenue Wasilla, AK 99654 Phone: (907) 373-1842 Fax: (907) 373-4729

Kohring Calls for Massive Spending Cuts
Releases Revised Budget Plan Calling for "Revolution"

(JUNEAU) - Rep. Vic Kohring (R-Wasilla/Peters Creek) has presented a revised budget plan that would eliminate the budget deficit without taxes or spending the Permanent Fund, in stark contrast to Fiscal Policy Caucus's plan, which includes taxes and spending a portion of the Permanent Fund.

"Many Alaskans are tired of the old tax-and-spend approach," Kohring said. "They want an approach that cuts the budget substantially and rejects taxes and spending the Permanent Fund. We have a clear choice: cut government or cut Alaskans paychecks by stealing their hard earned money through taxes. I say, cut government, and cut it big."

Kohring's revised plan's basic elements include:

• Cutting spending by $500 million the first year and $100 million in each of the next five years (general, federal and other funds), for a total of $1 billion;
• Selling land holdings, the Alaska Railroad and other state-owned facilities, and combining the proceeds with the Alaska Science & Technology Foundation Endowment and the Constitutional Budget Reserve, and placing the total into the existing "Rainy Day Account;"
• Increasing oil and gas royalties through an aggressive plan to stimulate exploration and development with tax breaks, streamlining the permitting process and offering more lands for leasing;
• Drawing upon the Rainy Day Account funds to eliminate the budget deficit over the 10-year period, as new oil and gas revenues gradually come on line.

Kohring expands on the reasons underlying his proposal in detail in the attached editorial, entitled "Revolution."

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Attachments:

• Revolution Op-Ed., 03-07-02
  
• Print Friendly Version
  Requires Adobe Acrobat Reader - 3 page(s) - 19K
  

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