Alaska should invest the budget surpluses it predicts from high oil prices into funds that will be used for future education, transportation, alternative energy, and employee pension costs, Gov. Sarah Palin said Wednesday. The state government’s general fund revenues come largely from oil taxes, which are expected to generate billions of dollars in surpluses because of prices in the range of $90 to $100 per barrel. According to Palin, over the next two years Alaska should: invest $2.6 billion in the education fund for public education in the future; create a $1 billion fund, the earnings of which would be used for future transportation infrastructure; deposit $450 million into the state’s Teachers’ Retirement System, to reduce its unfunded liability; create a $250 million alternative energy fund; and pump $379 million into the state’s constitutional budget reserve, a fund to help the state’s government through lean financial years. Palin will release her operating and capital budget proposals for fiscal 2009 next week.
-
While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.
8h ago -
The Fed's 50 basis point cut surprised many, as a looming federal election and all the uncertainty that brings complicates efforts at forecasting.
9h ago -
The product is designed to give SOLVE's customers visibility into "next-trade" pricing data for more than 900,000 munis.
9h ago -
After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.
9h ago -
The agency cited a sustained commitment to healthy reserves and structural balance.
9h ago -
The plan involves building modern infrastructure and streamlining government operations and delivery of services.
10h ago