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Current Topics
Alaska Permanent Fund board holds heated meeting after publication of emails raising concerns about board's vice chair. ADN
Following email leak, Alaska Permanent Fund Trustees say no security breach occurred. Alaska's News Source
Alaska Permanent Fund board to consider changes after leak of concerns over trustee. Alaska Beacon
The Alaska Permanent Fund trustee board held a special meeting Wednesday to discuss security issues after a series of internal staff emails were made public.
(My Comment: Our unique legacy sovereign wealth fund has been so politicized by appointments based on political favors that I fear for its future. The Legislature has little, if any, ability to correct these Governor appointee issues.)
Door ajar: Permanent Fund board left its executive session on topic of leaks open to the public. Alaska Landmine
The board voted 4-2 to go into executive session to discuss the leak. Interestingly, Board Chair Ethan Schutt, along with Trustee Craig Richards, voted not to take up the matter in executive session. Trustees Adam Crum, Jason Brune, Ryan Anderson, and Ellie Rubenstein voted to go into executive session. Four votes are required on the board for a majority.
Auroras could light up southern U.S. skies as intense geomagnetic storm hots Earth and threatens communications. ADN
Multiple outbursts from the sun could trigger magnificent auroras in many parts of the United States this weekend. A severe geomagnetic storm is expected to hit Earth late Friday, triggering colorful auroras. People in the Lower 48 could see moderate to strong geomagnetic activity starting around 11 p.m. EDT and lasting through Saturday.
Alaska has a 'first rate' earthquake monitoring system. The hard part is defending it against weather, bears and funding uncertainty. ADN
In recent years, Alaska’s network has expanded dramatically, thanks to the acquisition of about 100 monitoring stations brought to Alaska as part of a National Science Foundation project. The stations were supposed to be temporary, but the Alaska Earthquake Center, with last-minute funding, bought out the sites. They are now among about 250 operated directly by the center.
Anchorage sets new record for getting an inch of snow this late in the season. Alaska Public Media
A dusting of late-season snow overnight Wednesday left Anchorage an inch closer to its all-time snow record — but meteorologists don’t expect it to be broken.
Anchorage welcomes first cruise ship of 2024 season. Alaska's News Source
Nearly 2,000 passengers from Holland America’s Nieuw Amsterdam arrived Thursday morning, walking down a gangway at the Don Young Port of Alaska to find a chilly morning in Anchorage.
Mountain goats live on the edge, and perish at a surprisingly high rate as victims of Alaska avalanches. ADN
The study—on a species that doesn’t get a lot of attention because its habitat is so hard to reach—revealed that the steep country that is advantageous for mountain goats is often lethal. Avalanches were among the most frequent causes of mortality in all the goat deaths the scientists studied.
U.S. should hold Russia, Chine to clean production standards, Alaska Senate says. Alaska Beacon
The resolution calls on federal policymakers to hold foreign countries accountable for inexpensive, emissions-heavy production practices that can undercut American prices.
City to lose 24/7 police patrols later this month. Kodiak Daily Mirror
A chronic staffing shortage means the Kodiak Police Department will soon no longer provide 24/7 patrol coverage. Starting the last week of May, there will be 24-hour coverage only four days a week, with an officer on standby at home the other three days.
(My Comment: How much worse does it need to get before Alaska offers a Pension for public employees. City of Fairbanks has similar issues since last summer.)
Economy
Gen Z sinks deeper into debt. Wall Street Journal
Americans in their early 20s are saddled with more credit-card debt than people their age in previous generations. Wall Street Journal personal-finance reporter Oyin Adedoyin joins host J.R. Whalen to discuss how they accumulated so much debt, and ways to pay it off.
Inflation expectations creep up. Axios
The New York Fed's Survey of Consumer Expectations for April showed Americans anticipate inflation of 3.3% over the next year, up from 3% in March and the highest in five months. Expected inflation over the next five years edged up as well. Separately this morning, the Cleveland Fed's quarterly survey of CEOs showed their anticipated inflation over the next year rose to 3.8%, from 3.4% three months ago. That number had declined for five straight quarters.
Today's numbers follow a report Friday from the University of Michigan showing a rise in consumers' expected inflation over the next year that fueled a sharp drop in overall sentiment.
Mortgage market warning. Axios
Popular mortgage lenders operating outside of the traditional banking system could be a source of the next economic shock, top financial regulators warn. Many would-be homeowners turn to these companies for mortgages. As a result, the sector is becoming more intertwined with the financial system — a key reason regulators say the firms pose an economic threat.
Education
Alaska Supreme Court schedules date for homeschool lawsuit appeal. Alaska Beacon
The Alaska Supreme Court proposed hearing the state’s appeal to a court case that struck down key components of its correspondence school program before the end of June.
Families, teachers prepare for big changes coming to Anchorage School District next year. ADN
Education will look a little different in fall for Anchorage School District families and staff: School start times are changing; high school freshmen will take a new career-focused course; and most sixth graders are transitioning from elementary to middle school.
Alaska's education department does not track homeschool allotment spending, but may have to start. Alaska Beacon
Correspondence school families say recent Alaska court ruling left them panicked, chocked and angry. Alaska Beacon
The Alaska Department of Education and Early Development does not track whether or not correspondence school allotment money is spent constitutionally. The law has allowed families to spend up to $4,500 per child on homeschool curriculum, classes and activities since 2014.
Politics
Brinksmanship and compromise emerge in Alaska's Capitol as legislative session nears an end. Alaska Beacon
Members of the Alaska Senate have killed, at least temporarily, a plan to end a tax policy worth more than $100 million for one of the state’s largest oil companies. The move came after Hilcorp Alaska and members of the state House of Representatives warned that there would be consequences if the Senate moved forward with plans to end a tax policy that benefits Hilcorp more than many other corporations.
Even before Hilcorp bought BP’s Alaska holdings in 2020, legislators were warned that the state’s corporate income tax applies to larger firms like BP, not companies like Hilcorp, and the result of the sale would be a loss of income. Hilcorp is organized under federal tax law so that its income passes through to its owners. The owners might pay state income taxes in states that have them; in Alaska, they go untaxed.
Key senators skeptical royalty relief proposals would boost Cook Inlet gas output. Alaska Public Media
But Senate Resources Committee Co-Chair Sen. Cathy Giessel, R-Anchorage and the Senate majority leader, said she came away with an entirely different conclusion from Kaufman. “At the conclusion of it, it seemed evident that royalty relief really wasn’t going to make a difference,” she said Friday. “The production tax on oil in Cook Inlet right now is $1 per barrel. It is significantly low,” she said. “We already have an incentive to explore for oil.”
Hilcorp's $100 million warning shot to Alaskans. ADN
Hilcorp’s response to the potential end of its free ride was predictable but shameful. Hilcorp Alaska senior vice president Luke Saugier, in an email to Railbelt electric utilities and Enstar, said that making the company pay corporate income taxes would cause Hilcorp to consider walking away from natural gas production in Cook Inlet — a more or less explicit threat to the heat and power of the vast majority of the state’s residents. His letter was tantamount to saying: If you tax us, we’ll turn off the gas to Alaska.
Alaska Senate contemplates major property tax cut for over-65 homeowners. Alaska Beacon
The Senate Finance Committee proposed tripling the exemption from $150,000 to $450,000. An eligible Alaskan whose home is worth that amount or less would pay no local property taxes.
Alaska Legislature plans to eliminate many mandatory newspaper public notices. Alaska Beacon
Public officials nationwide, citing a preference for internet publication, have begun repealing laws that require that public notices be published in local newspapers.
Map Monday: Women in State Legislatures. NCSL
Alaska - Women in Senate: 5/20; Women in House: 15/40
In most statehouses, women hold fewer than 50% of the seats, and far fewer than that in many states. Pew Research says the trend line has been climbing since the 1970s, with 35 more female legislators this year than last. That brings the percentage nationwide to 32.9. Nevada is the first state to have a majority of women in both chambers, at 60%. There are a host of reasons women lag behind men in state legislatures, but the Rutgers University Center for Women in American Politics says one factor is money. Female candidates tend to rely on small donors and are less likely than men to fund their own campaigns. Another issue: incumbents have a fundraising advantage, and most incumbents are male. The center says women donate to campaigns of women more than they do the campaigns of men, but those donations tend to be smaller.
Putting economic solutions above partisanship. ADN
Little can be accomplished here without working together. Every day, Alaskans plow each other out, share the bounty of a successful harvest in their communities, and do whatever they can to take care of complete strangers in the face of earthquakes, floods or blizzards. It’s who we are.
Alaska Legislature set to approve a $1,650 combined PFD and energy relief payment. ADN
With a day left in the Alaska legislative session, here’s what lawmakers are focused on. ADN
Alaska Legislature to approve $1,650 PFD amount, including energy relief payment. Alaska's News Source
Alaska budget negotiators announce tentative deal as legislative session nears deadline. AP News
Legislative leaders agreed on Tuesday to pay a combined Permanent Fund dividend and energy relief check of roughly $1,650 per eligible Alaskan this year. The cost of the PFD is $1.1 Billion. The cost to:
· institute a child care tax credit - $6 million
· partly fix reliable electric power for 75% of Alaskans - $206 million
· fill public service jobs - $232 million
Instead the PFD sends about $275 million to the IRS, and portions to Amazon/online sales, Alaska Airlines tickets, and Hawaiian economy.
Healthcare
Staggering drug overdose toll. Axios
Researchers said the findings emphasized the need for policy responses to the overdose crisis to address the impact on families, including the "economic, social, educational, and health care needs of children who have lost parents to overdose."
Alaska Senate OKs increased access to birth control. Alaska Beacon
Alaskan women may access up to 12 months worth of contraceptives at a time and without a co-pay from the state’s pharmacies if the bill becomes law.
SB 115 is the right way to fix healthcare access in Alaska. Alaska Landmine
Opponents of SB 115, such as the Alaska State Medical Association, argue that independent PA practice raises concerns about patient safety and quality of care. These arguments overlook the extensive education and continuous professional development that PAs undergo. Studies have shown that PAs provide care comparable to physicians, often improving access without compromising quality. Opponents also neglect to mention PA leaders in Alaska have attempted to meet with physicians over the past four years to help collaborate but our efforts were not heard.
House passes school mental health expansion and crack down on deep fakes, probation reform stalls. Delaware Public Media
The Delaware House of Representatives passes two bills, one to provide funding for mental health services in high schools
(My comment: Students age 14 and older can consent for themselves for mental health counseling.)
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