I introduced SJR 33 to find an acceptable long-term solution to the state’s revenue deficit problem and bring fiscal security and stability to future state government operations and responsibilities.

SJR 33 is a proposed constitutional amendment that will accomplish three things. It will give every eligible Alaskan a 25 thousand dollar one time payment from the Permanent Fund and end all future dividends. Secondly, earnings from the 12 billion dollars remaining in the fund will be available for the original, primary purpose of the Permanent Fund. That purpose was to provide a revenue source for necessary and essential public services when facing the effects of declining oil revenues. Finally, the proposal requires approval by a majority vote of the people.

There certainly are other ways to stem the current deficit spending spiral. The voter rejection of last year’s long-term plan, however, shows that any new proposal must not only provide a real budget solution, but it must also be acceptable to the electorate.

Moreover, the vote last September seems to have deadened any further administrative or legislative efforts to address the long-term aspects of our budget situation. This is a situation that inevitably will worsen with inattention. Not only are drastic spending cuts and taxes a looming presence, but also the dividend program itself is in jeopardy.

The constitutional amendment proposed by SJR 33 is a long-term solution to our revenue problems. I believe it would be approved in the coming general election.