More Related Content More from Brad Keithley (20) Implementing Governor Hammond's "50/50" Plan (updated 1.4.2017)19. The overall effect
Traditional “Other
half”
Draw on
Reserves
Reserves
BalanceYear Spending Oil Other
FY 2017 $4.30 $12.77
FY 2018 $4.39 $1.10 $0.52 $1.50 $1.27 $11.50+
FY 2019 $4.47 $1.34 $0.53 $1.54 $1.06 $10.44+
FY 2020 $4.56 $1.36 $0.55 $1.53 $1.12 $ 9.32+
FY 2021 $4.65 $1.38 $0.56 $1.60 $1.11 $ 8.20+
FY 2022 $4.75 $1.43 $0.58 $1.77 $0.97 $ 7.24+
Total $5.53
Updated 1.4.2017 Alaskans for Sustainable Budgets 19
Next five years using Administration’s revenue numbers,
if spending held to $4.3 adjusted for inflation & pop:
25. A few fiscal facts …
How much is currently in the ER/CBR/SBR and PF Corpus?
Currently projected balances as of the beginning of FY 2018 (July 1,
2017): $9.2B (ERA), $3.3B (CBR), $300M (SBR), $43B (PF corpus)
(LegFinance, https://goo.gl/u1No6p at 3).
How much have we accrued in unpaid Oil & Gas tax credits?
According to the Administration’s most recent estimate: $1.175B (FY
2018), with another $285M in FY 2019 and continuing at $150‐200
thereafter (DOR, https://goo.gl/J05Ia1 at 2).
How much are current revenues?
According to most recent projections: Traditional UGF: $1.25B (FY
2017), $1.35B (FY 2018) (DOR, https://goo.gl/uDwqYk at 8). “Other
50%”: $1.3B (FY 2017), $1.3B (FY 2018) (PFC, https://goo.gl/UiBbKh)
How much revenue would broad based taxes raise?
According to the Administration’s estimates: Income tax: $200M (6%
of fed liability; DOR, https://goo.gl/evnpVB at 11), Sales tax: $418M
(3%, DOR, https://goo.gl/GZ223E at 6).
Dec 7, 2016 Alaskans for Sustainable Budgets 25