Senate Majority Bipartisan Coalition Website

State Senator District E

Senate Majority Leader

 

Senator Cathy Giessel Newsletter

UPDATES



Issues affecting

your family, community and jobs.

 

 

February 19, 2026

 

 

Dear friends and neighbors,

 

Photo: Longer Days!

 

Owls: Thanks to all the folks who know Saw Whet Owls and have built owl nest boxes!

I heard a new owl on Saturday morning. "Who-who. Who. Who"

I don't know 'who' it was but it was alternating calls with the Saw Whet.

 

Governor's Tax Bill Changed

The Senate Resources Committee made changes.

·     eliminated sales tax and all references to it

·     moved oil tax structure from tax on net profits to tax on gross value of oil

·     accepted Governor's idea of 15 cent surcharge on TAPS oil, goes to General Fund and intend use to maintain the Dalton Highway

·     added Education Head Tax, goes to General Fund, intend use for public education programs and infrastructure maintenance

·     added S Corporation Tax for private oil & gas corporations

·     added the online sales tax (was SB 113 which Governor vetoed)

·     forwarded SB 227 on to the Senate Finance committee for more consideration and discussion.

New version of SB 227 will be at this link by Friday. Amendments made on 2/18 have to be put into the bill, then it will be posted.

 

Why the change to Gross Value Tax in SB 227? Our net profits tax has been cited by multiple consultants as the most complex in the world. Oil company tax employees have called it the most complex tax structure they have encountered. It takes our tax division employees 2 hours to explain the net profits tax, with all the deductions and credits. An Alaska Oil and Gas Association consultant from EconOne has a 65 page presentation to explain to legislators how net profits tax works.

 

The Senate Resources committee adopted the change to Gross Value Tax to continue the conversation about how to simplify our tax structure, understand it better, and make sure that we are getting an appropriate share of the oil value for Alaskans.

 

I voted to adopt the Gross Value Tax and move SB 227 to Senate Finance because we need to have the discussion & evaluation on all the elements in SB 227, including the change in oil tax.

 

SB 227 will change in Senate Finance; this will not the final version.

 

Facing opposition, Dunleavy says lawmakers should ‘take more time’ on his tax bill Alaska Public Media

House Speaker Bryce Edgmon, an independent from Dillingham, said it was clear from public testimony that Alaskans were not prepared to pay a sales tax. “You cannot do broad-based taxes or any significant measures without, No. 1, having the general public somewhat in alignment."

 

Alaska lawmakers go for a redo on vetoed corporate income tax bill Alaska Public Media

Alaska lawmakers are going for round two on a bill Gov. Mike Dunleavy vetoed last year. The bill would change the way corporate income taxes are calculated, bringing in tens of millions of dollars in new revenue.

 

Senate committee rewrites governor’s revenue bill, removing sales tax and boosting corporate taxes - ADN

Alaska Senate majority members have upended Gov. Mike Dunleavy’s tax bill by replacing the governor’s proposed sales tax with changes to the state’s taxes on corporations.



 

Voter Rolls, Details sent to Federal Government

The Dunleavy Administration released Alaska voter roll details. More information about the contract Alaska agreed to:

Reporting From Alaska- A wholesale invasion of Alaskans' privacy

The Dunleavy administration has given the background data from the voter rolls to the Department of Justice, including driver’s license numbers and partial Social Security numbers. In this confidential memo the state signed in December, it gave up on local control of elections. 

 

Items in this Newsletter:

·     Fiscal Policy Forum CommonWealth North February 5

·     Finance Committee Meetings.

·     Current Topics, Stuff I Found Interesting, Arctic Issues, Economy, Education, Politics, Healthcare

·     Resource Values, Permanent Fund

·     Alaska History

·     Upcoming Catch Up With Cathy Events

 

 

 

 

Fiscal Policy Forum

CommonWealth North

February 5

 

Legislative leaders and a former senator dissect Governor Dunleavy's State of the State address, revealing deep divisions over taxation, spending, and the Permanent Fund Dividend.

 

Great discussion. Good illustrations of the financial situation.

Link to view it.

 

 

 

 

Finance Committee Meetings

 

February 16 9:00am Link to meeting Dept of Revenue. Meeting Notes

February 16 1:30pm Link to meeting Ak Retirement Mgt Board Meeting Notes

February 17 9:00am Link to meeting SJR 2, SB 104, SB21, SB211 Meeting Notes

February 18 9:00am Link to meeting DOA, State Salary Update Meeting Notes.

February 18 1:30pm Link to meeting Bills Previously Heard/Scheduled Meeting Notes.

 

 

Current Topics

Lawmakers skeptical as developer of Alaska LNG megaproject sets rapid construction timeline - ADN

Glenfarne has not sought any support from the Legislature for Alaska LNG, though the company said in a statement Wednesday that it is pursuing “property tax reforms” with state and local leaders.

Gov. Mike Dunleavy, a project supporter, has said he plans to introduce a bill that would reduce the state’s oil and gas property taxes by 90% to assist the project.

 

Alaska's chief justice highlights progress on court delays in speech to Legislature Alaska Public Media

 

Alaska Chief Justice asks for $775K for new Palmer judge, maintenance funding despite tight state budget Alaska News Source

Alaska Supreme Court Chief Justice Susan Carney highlighted efforts to reduce case backlogs and asked lawmakers to fund new judges and long-delayed courthouse maintenance during the annual State of the Judiciary address on Wednesday.

 

‘Aren’t taking our foot off the gas pedal’: Governor gives update on drug interception efforts in Alaska Alaska News Source

Alaska officials continue seizing record-setting volumes of illegal drugs, much of it through ramped-up efforts at the state’s main airport complex in Anchorage, though in lower quantities than 2024.

 

The Alaska House’s draft budget has no PFD. Here’s what that means. Alaska Public Media

 

Alaska House Republicans criticize majority decision to temporarily set PFD at zero - ADN

House minority Republicans are decrying a procedural decision to temporarily zero out the Permanent Fund dividend size in next year’s draft budget while conversations are underway on its ultimate amount.

 

 

Things That I Found Interesting

1 big thing: Loud AI alarm Axios

OpenAI's last model helped train itself. Anthropic's viral Cowork tool built itself. These revelations — in addition to signs that AI threatens big categories of the economy, including software or legal services — are prompting lots of real-time soul-searching. The AI disruption is here. Its impact is happening faster and more broadly than most people and institutions are ready for.

 

PODCAST The need for reliable child care in Alaska Talk of Alaska

Finding affordable child care in Alaska is tough. Rising costs, long waitlists and staffing challenges mean families don’t have a lot of options. State and local leaders are tackling the problem from a variety of angles, but is it enough? We’ll discuss the struggles facing families and the people who watch their children on the next Talk of Alaska.

 

Most drugs seized in Alaska last year came through Anchorage airport, report says -ADN

 

‘Large fight’ breaks out at Alaska’s maximum-security prison in Seward amid downsizing effort Alaska Beacon

Officials with the Alaska Department of Corrections told lawmakers a “large fight” with a hefty price tag broke out at the state’s maximum security prison in January, amid downsizing and cost-cutting efforts. The fight at Spring Creek Correctional Center involved 50 inmates, some of whom sustained minor injuries, officials said. 

 

 

Arctic

Washington and other Democratic-led states drop lawsuit against Arctic refuge oil drilling in Alaska Alaska Beacon

Fifteen Democratic-led states have dropped a six-year-old lawsuit challenging the legality of a federal plan that allowed oil and gas drilling in the coastal plain of the Arctic National Wildlife Refuge in Alaska. The state of Washington was the lead plaintiff. Mike Faulk, deputy communications director for the Washington State Attorney General’s office, confirmed that the states are dropping their case but said they will continue their opposition to ANWR drilling.

 

Alaska's 'Superbowl' of dog mushing, the Iditarod, set to run its normal northern route

The Iditarod Trail Sled Dog Race is less than a month away and set to run on its normal northern route this year.

 

 

Economy

Senate hearing examines 8(a) contracts critical to Alaska Native corporations Alaska News Source

 

After Trump administration attacks, Murkowski and others defend ‘transformative’ 8(a) contracting program ADN

 

At Senate hearing, tribal leaders speak up for a program that benefits Native-owned businesses Alaska Public Media

Alaska Native corporations were created by the Alaska Native Claims Settlement Act in 1971 to manage tribal land and resources. Those corporations later gained access to the 8(a) program, which supporters say promotes economic self-determination for tribal communities. The program has become critical to Alaska’s economy. The state describes its economic foundation as a “three-legged stool” supported by oil, federal spending, and industries like tourism and fishing.

 

Alaska lawmakers grill transportation officials over controversial ferry project Alaska Public Media

Members of the House Transportation Committee slammed state transportation officials on Tuesday over a controversial ferry project that lawmakers said stands to benefit private interests but not ferry users themselves.

 

PODCAST Alaska lawmakers float sending inmates out of state as prison costs mount Alaska Public Media

As Alaska lawmakers reckon with a tight state budget and rising costs in the Department of Corrections, some are floating an uncomfortable idea: once again sending Alaska inmates out of state. Over the last ten years, lawmakers have boosted the Department of Corrections’ budget by 70%, and even that hasn’t been enough. (My comment: The Dept of Corrections has had massive overtime costs, as hiring is difficult, as is retention.)

 

Opinion: We built the pipeline. We can build stability. - Anchorage Daily News

Premium pay, largely overtime required to cover vacancies, has more than doubled. According to the Alaska Department of Administration, statewide premium pay totaled $72.5 million in FY16 and in FY25 it climbed to $149.7 million. It is on track to exceed $200 million in FY26.

 

 

Education

Alaska school maintenance backlog has reached a crisis, students and school boards tell lawmakers Alaska Beacon

Decades of deferred maintenance for Alaska’s schools is reaching crisis levels, lawmakers heard, with some districts grappling with deteriorating school buildings, failing water and sewer systems. 

 

Legislators probe conditions at state boarding school where a quarter of students have disenrolled - ADN

Lawmakers call Mt. Edgecumbe conditions ‘deplorable Alaska News Source

 

'It's cold out here.' Students, teachers warn of an education system in crisis The Alaska Memo

“The quality of the facilities was, I think, deplorable,” said Sen. Lyman Hoffman, a Bethel Democrat who went on the trip. Hoffman said students had reported a rat frequenting the gym facility so often they gave the creature a nickname: Twinkletoes.

At a hearing with the joint House and Senate education committees on Monday, several teachers testified that they’re struggling to teach in facilities that are essentially falling apart. The supposed compromise between students’ needs and the budget, they say, isn’t working.

 

Opinion: How to save our schools Anchorage Daily News

 

PODCAST: Lawmakers press superintendent, education commissioner over conditions at Mt. Edgecumbe High School - KCAW

 

Rat holes and decay: Lawmakers release 25 pictures of ‘deplorable’ Mt. Edgecumbe conditions Alaska News Source

Twenty-five pictures released Thursday show deteriorating conditions inside Mt. Edgecumbe High School in Sitka: narrow stairways crammed with boxes, brown ceiling stains dripping down walls, exposed classroom wiring, and a rat hole students named “Tip Toes.”

 

 

Elections

Federal government may seek removal of individual Alaskans from state voter rolls Alaska Beacon

Alaska delegation split on bill requiring voters to prove citizenship at registration Alaska Public Media

Dahlstrom invited feds to intrude on state elections Reporting from Alaska

When the state of Alaska turned over a copy of the state’s voter rolls to the Department of Justice in December, it also signed an agreement that allows the DOJ to ask the state to put individual Alaskans on track for removal from the state’s voter list.

 

Reporting From Alaska- A wholesale invasion of Alaskans' privacy

The Dunleavy administration has given the background data from the voter rolls to the Department of Justice, including driver’s license numbers and partial Social Security numbers. In this confidential memo the state signed in December, it gave up on local control of elections. 

 

Federal Requests for Statewide Voter Lists National Conference of State Legislatures

This is a summary of the topic

 

Even Republican election officials are balking at Trump Justice Department’s voter roll crusade | CNN Politics

At least a half-dozen Republican-led state election offices have declined the Justice Department’s request for non-public voter data, which can include a voter’s Social Security number, driver license ID number or current residence, according to interviews, local media reporting and records obtained by CNN and by the Brennan Center, a left-leaning think tank that researches election issues.

 

Federal judge dismisses Trump admin lawsuit over Michigan voter rolls - Bridge Michigan

A federal judge has dismissed the U.S. Department of Justice’s lawsuit against Michigan over the state’s refusal to give the department an unredacted list of registered voters, finding the state isn’t required by federal law to turn it over.

 

Opinion: What it is and what it isn’t: The facts of ranked choice voting Anchorage Daily News

So, in a way it is a simple choice: Do you want an open primary with an RCV general? Or a return to the traditional closed primary, party selection of candidates by the party itself, with one person, one vote in the general?

 

Alaska Supreme Court upholds constitutionality of campaign ad disclosure statements Alaska Beacon

Alaska’s legally required campaign ad disclaimers do not violate the First Amendment, the state supreme court ruled Friday, deciding a six-year-old dispute between the Alaska Policy Forum and state campaign regulators. Justice Dario Borghesan wrote the 61-page decision on behalf of the court, which ruled unanimously and upheld minor fines against APF that were issued by the Alaska Public Offices Commission five years ago. The case dates from 2020, when Alaskans voted to approve Ballot Measure 2. That measure installed open primary elections, required disclosure of some political donations and installed ranked-choice voting in general elections

 



Energy

North Slope workers for ConocoPhillips vote to unionize - ADN

About 250 oil field workers with ConocoPhillips’ North Slope operations in Alaska voted Monday to unionize, amid concerns that included the company’s global layoffs, a person involved in the effort said.

 

House Energy hears plans for Cook Inlet LNG import terminals - February 15, 2026 - Petroleum News

There was discussion during the House Energy meeting about potential issues relating to the duplication of import capacity resulting from the implementation of more than one import facility. Would this result in unnecessary costs that would need to be recovered from gas and electricity consumers in Southcentral? And would government regulators be willing to permit the construction of duplicating facilities and approve any impact of the duplication on the cost of gas?

 

Chugach Electric pursuing hydro projects - February 15, 2026 Petroleum News

Chugach Electric Association is pursuing hydroelectric projects as part of efforts to reduce reliance on natural gas and achieve decarbonization goals set by its board of directors. Chugach said in a Feb. 10 release that it is moving forward in investigation of potential Southcentral hydroelectric sites.

 

ANS hugs $70 level - February 15, 2026 - Petroleum News

After making a geopolitically-fueled second run in a trading week to mere pennies below $70, Alaska North Slope crude dipped below $69 per barrel Feb. 10, down 45 cents to close at $68.90. West Texas Intermediate shed 40 cents to close at $63.96 on the day and Brent ticked 24 cents lower to close at $68.80. Oil trading saw a choppy week as saber rattling in the U.S.-Iran standoff contended with hopes for a peaceful negotiated settlement to the tensions.

 

Trump weighs Alaska offshore mineral leases - North of 60 Mining News

As part of the federal push to secure domestic supplies of minerals and metals critical to American industry and national security, the U.S. Bureau of Ocean Energy Management (BOEM) is weighing interest in a potential lease sale for tracts of Outer Continental Shelf lands off the coast of Alaska enriched with cobalt, copper, manganese, nickel, rare earths, tellurium, and potentially other critical minerals.

 

To deal with natural gas shortage, Chugach Electric explores 4 hydropower projects Anchorage Daily News

Chugach Electric Association has filed early applications for permits with state and federal regulators to investigate the hydropower sites in Southcentral Alaska for possible future construction, the utility said in a statement.

 

 

Politics

‘It hurts my heart’: Sen. Murkowski travels to Greenland after threats by Pres. Trump to acquire territory Alaska News Source

“It hurts my heart, it hurts my heart to know of the anxiety and concern that you and your families face, as you look, as you feel this time of unsettledness and what that must mean,” the senator said from Greenland on Monday. Murkowski was the only Republican among four senators who took the trip to Greenland after President Donald Trump’s repeated threats to acquire the island. Greenland, which is controlled by Denmark, is a NATO ally.

 

The most meaningful tariff pushback yet Axios

In a rare break with Trump, six House Republicans joined with Democrats yesterday to vote to overturn Trump's levies on Canada, imposed using unprecedented presidential authority.

 

As U.S. House votes to end Canadian tariffs, Alaska’s Begich seeks to extend them Alaska Beacon

The U.S. House of Representatives voted 219-211 on Wednesday to end President Donald Trump’s national emergency at the Canadian border and end tariffs on Canadian imports. Alaska Sen. Lisa Murkowski voted to end the Canadian tariffs; Sen. Dan Sullivan voted to extend them. Alaska’s lone member of the House, Rep. Nick Begich III, R-Alaska, stuck with Republican leaders and voted against ending the tariffs.

 

1 big thing: Brink of war Axios

The Trump administration is closer to a major war in the Middle East than most Americans realize. It could begin very soon.

 

 

Alaska Resource Values

 

Alaska North Slope crude oil price (02/13/2026):$67.66

The Dept of Revenue Tax Division previously updated the ANS price every evening after 5 PM.

They have stopped doing that. The above price is a week old, as you can see.

FY26 budget (beginning 7/1/25) is fully funded at

$64/barrel of oil.



History of prices:

12/17/25: $60.06

9/20/24: $63.63

9/30/23: $87.99

9/30/22: $86.91

6/29/22: $116.84

3/08/22: $125.44

12/22/21: $75.55

March 2020: $12.29

7/3/2008: $144.00

ANS production (2/16/26): 462,593 bpd

 

Precious Metal Prices

February 18, 2026

Gold - $4,980.03

Silver - $77.80

Platinum - $2,088.90

Copper - $5.77

Palladium - $1,735.84

Rhodium - $10,900.00

 

Alaska Permanent Fund

website

The projected payment to the state General Fund for upcoming Fiscal Year 2027, under the Percent-of-Market-Value (POMV) formula, is to be $4 billion, up from $3.8 billion for FY 2025, the current year.

 

The Fund’s rate of return over five years has been 9.54%

• For the first three months of the FY 2026 fiscal year, or July 1 through September 30, the Fund had $2.21 billion in “statutory net income.” 

 

Fund value February 17th, 2026 - $88,844,500,000

 

 

PFD payout from ERA, Fiscal years 1982-2025: about $33 billion

Over $100 billion total earnings over lifetime of the Permanent Fund

 

 

Alaska History

 

·     1989, Feb 19 - Roxie Wright-Champaign became first woman to win the Fur Rhondy Sled Dog Race

·     1899, Feb 20 - First White Pass & Yukon Railroad passenger train (This narrow gauge railroad is an International Historic Civil Engineering Landmark)

·     1924, Feb 21 - Carl Ben Eielson, Alaska bush pilot & explorer, made the first Airmail delivery in Alaska, between Fairbanks to McGrath. Eielson Air Force Base is named for him.

·     1957, Feb 24 - First commercial flight between Europe and the Orient, stopping in Anchorage

·     1923, Feb 27 - President Harding established the National Petroleum Reserve - 4 (NPR-4) on the North Slope (Its now called NPR-Alaska)

·     1967, Feb 28 - First winter ascent of Denali, accomplished by Art Davidson, Ray Genet and Dave Johnston

 

 

Catch up with Cathy

 

These are informal coffee conversations in which the folks that attend determine the topics of interest and concerns.

 

March 21st - at the Kaladi Brothers on Tudor Rd 9:00am - 10am

 

March 28th - at the Grind in Girdwood 2:00pm-3:00pm

 

April 11th - at Bell’s Nursery Café, 13700 Specking Ave, Anchorage, AK 99515

 

My staff and I love these meetings! They are small groups and we can talk about what interests the folks who attend.

 

Its usually a small group, and people come and go. Topics are determined by the people who are present. I hope to see you there.

 

 

Feedback is always welcome.

Have a great week!

 

Cathy 

 

Personal Contact:

907.465.4843

sen.cathy.giessel@akleg.gov

 

Past Newsletters on my website



My Staff:

·     Chief of Staff: Jane Conway (from Soldotna)

·     Resources Committee Staff: Paige Brown (from Anchorage/Girdwood)

·     Office Manager: Samantha Freeborn (from Anchorage)

·     Intern this session: Ben Goltz (from Anchorage, student at Dartmouth College)

 

Copyright © 2026. All Rights Reserved.

 

 

 

Senator Cathy Giessel's Newsletter | 12701 Ridgewood Rd | Anchorage, AK 99516 US