OIL TAXES

Alaska’s money troubles didn’t appear overnight. Back in 2013, the state started spending more than it earned—using savings to cover the gap. That’s like a family dipping into their emergency fund every month just to pay bills. Oil prices then plummeted, dropping to $26 a barrel in 2014, making the

Alaska’s state budget talks just got heated over how much money each resident should get from the Permanent Fund dividend—a yearly cash payout meant to share oil wealth. A key committee voted 6-5 to move forward with a plan that could send residents around $3, 800 each, but only if they dip deep int