Monthly Archives: April 2016

How to finish this session: the movie (I mean, the video)

At the invitation of Daniel Hamm, on Tuesday evening of this week I spoke to the regular monthly meeting of the Alaska Republican Assembly on the current status of the Alaska budget in this legislative session.  The title of my presentation was “How to Finish This Session with a Sustainable Budget (and economy).”  A more detailed introduction to the presentation is here.  

Daniel went to the effort of filming (and perhaps the much greater effort of editing and uploading) the presentation and the Q&A session after. He has my most sincere appreciation for the effort.  The full video is about an hour and a half; perhaps more importantly, the Q&A session begins at about the 53:00 minute mark.  The YouTube is below and I have provided another copy of the slidedeck I used below that if you want to follow along.

This week (Apr 26, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss what issues have stalled the #AKLeg in its efforts to complete the #AKBudget, how those issues are being resolved and in the meantime, where and what is driving the surprising level (given current oil prices) of continued activity in the #AKoil patch.  I join Michael at 14:20 into the segment.

Listen here or at the widget below and for past episodes, go here.

How to finish this session with a sustainable budget (and economy): My presentation to the Alaska Republican Assembly

At the invitation of Daniel Hamm, the Chair, yesterday evening I spoke to the regular monthly meeting of the Alaska Republican Assembly.  Dan had asked that I brief the organization on the current status of the Alaska budget.  The title of my presentation was “How to Finish This Session with a Sustainable Budget (and economy).”

The presentation focuses on four issues:

  • What level of revenue should the budget use as a baseline.
  • Oil & gas tax credits.
  • The Operating & Capital budgets.
  • PFD cuts and other taxes.

Continue reading

This week (Apr 19, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss the #AKbudget, the #AKleg and $$oil — what the heck is going on now?  I join Michael at 15:15 into the segment.

Listen here or at the widget below and for past episodes, go here.

Spending caps (or at least spending cap “guidance”) …

HFIN Hearing (4.13.2016)Last Tuesday afternoon I was sitting in my home office in Anchorage (working on taxes, actually) when I received a call, telling me that HB 311, this session’s version of a bill first introduced by Rep. Charisse Millet in 2013, was up for hearing before the House Finance Committee at 8:30am the following morning.  The bill, which requires the Governor to submit as part of his annual budget the “sustainable budget” number calculated consistent with the “Goldsmith/ISER” approach, had received two hearings in the prior legislature (2013-14) (here and here) but hadn’t received any attention from the Committee this session prior to the call.

As I described in my subsequent testimony, the approach contained in the bill could be used as a fiscal plan (which I have advocated in the past), as a spending cap (which I also have advocated) or as a spending guide.

Never one to pass up an opportunity to talk about sustainable budgets, by 8:30am the next morning I was in Juneau, with a presentation which combined my thoughts with those that Dr. Goldsmith previously had submitted in support of the bill (the slidedeck is below). Continue reading

Plugged and unplugged: This week (Apr 12, 2016) on the Michael Dukes Show …

Michael Dukes Show UnpluggedIt was a busy week with Michael Dukes; we did two sessions.

As regular readers will know, each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues.  This week, however, Michael and I also did a second show for podcast only, the first in a series Michael will doing about various topics called “The Michael Dukes Show Unplugged”.

This week’s “Unplugged” show is an uninterrupted (i.e., no breaks) hour that steps back from the normal format and plunges a bit deeper into Alaska’s current fiscal situation than we normally are able to accomplish in a regular show format.  It is designed for those in the Administration and Legislature looking for a one-stop opportunity to catch up with what we and others have been talking about, as well as others looking for a way to catch up on the current situation as we round the final turn into the home stretch of this year’s legislative session.  You can listen to it by clicking on the widget below, or by going here.

We also did the regular show on Tuesday. This week we discuss whether ‪#‎AKLeg‬ spending is going to end up topping $4.5B this session and what is coming in the Senate’s revenue bill? (I join Michael at 13:45 into the segment).

You can listen to that segment here or at the widget below and for past episodes, go here.

 

Adding (yet) another thing to the website …

Fiscal CliffWhen I started this website several years ago I largely viewed it as a one-stop shop where I could collect my thoughts on various topics and, using RSS feeds, have a place quickly to scan and, if I wanted a deeper dive, have links to current industry news stories.  Over time I shared a link to the website to various friends and business associates who had similar interests, and from there it has continued to develop a somewhat broader audience, but at its core I still view it mostly as a place that I can go quickly in the mornings or during the day to catch up on things that I find important.

In that vein I have added today a new “window” on the right hand side of the website where I intend to keep a running version of the current shape of the FY 2017 Alaska budget as it moves through the remaining steps until enacted and signed by the Governor.  The version there now reflects the versions of the Operating Budget passed by the House and Senate last month, updated with the recent revision to oil & gas tax credits (HB 247) forwarded out of House Finance last Friday and now awaiting action by the full House.  I intend to update the window later today for the version of the Capital Budget adopted today in Senate Finance.

As you will note, adding the costs associated with the recent revision to oil & gas tax credits now puts the proposed House spending level well over the $4.5 billion mark which several in House leadership and on the Finance Committee previously have identified as their target.  Readers will find posts about our deep concerns on that development at Alaskans for Sustainable BudgetsWe will note the addition of future revisions to the window at that same site.

As always, we encourage readers to share any thoughts they may have on the information available at this site.

Given my shot, what I think is important for Alaskans to understand about the #AKbudget and #AKoil …

At the invitation of Greg Huff, the Director of the Alaska Council on Economic Education, I was the evening’s guest lecturer at yesterday’s session of this year’s “Economics Spring Forum,” an annual 3 credit course for teachers focusing on economic and financial issues. The Forum is sponsored by the Council in conjunction with UAA’s Center for Economic Education. Continue reading

This week (Apr 5, 2016) on The Michael Dukes Show …

Each Tuesday morning at 7:20 am Alaska, I join KBYR AM750‘s The Michael Dukes Show to discuss the latest in Alaska oil and fiscal issues. This week we discuss a new proposal filed yesterday to impose 35% tax on the #PFD, and whether legislators are coming up short in cutting the #AKbudget down to the target of $4.5 billion in spending, and if they are, why? I join Michael at 14:55 into the segment.

Listen here or at the widget below and for past episodes, go here.