Do you know where George stands on the PFD?
Below are PFD bills George sponsored and co-sponsored, and one PFD bill he voted for. Bills highlighted in this email designated with 'Votes' are bills that were passed by both house and senate. You will find other options at the top of these linked pages if you wish to do more research:
HB 65 & 66 - 2016 PFD SUPPLEMENTAL PAYMENT - An act increasing the amount of the 2016 PFD, and directing the Dept. of Revenue to pay a supplemental dividend to qualified individuals. This restores what was taken by the governor.
HB 161 - ADVISORY VOTE ON USE OF THE PFD - An Act authorizing an advisory vote from the people on the use of permanent fund earnings to finance the operation of state government.
HB 21 & 22 - APPROPRIATION FOR 2016 PFD SUPPLEMENTAL PAYMENT - An Act authorizing an advisory vote on the use of permanent fund earnings to finance the operation of state government.
HB 187 - PERM FUND EARNINGS: DIVIDEND & GEN FUND - An act protecting the Permanent Fund by using the Earnings Reserve Account, where half of the money goes first for payment of the dividend and the other half to be used on essential state services.
Other Positions & Votes
No bills were passed the first session. There was only one bill that passed during the second session. George vote 'NO' on all POMV bills.
SB 26 - Establishes a new formula to withdraw from the Earnings Reserve for the state to use to a POMV formula (Percent of Market Value). It does not change the formula for the PFD. The formula for the PFD is 1/2 of the previous 5 years' interest earned from the Permanent Fund. The new statutory formula to withdraw for government use is a percent of the value of the Permanent Fund and Earnings Reserve together for the previous 5 years.
Where does George stand on the PFD?
George has publicly stated he ONLY supports the original formula with a 50/50 plan for the PFD.
The traditional 50/50 plan is half of the interest earned from the Permanent Fund toward the PFD, and the other half is available for government, if needed. Historically, none of the Earnings Reserve has been used for government, but this year was an exception. Rep. George Rauscher only supports this original formula for the PFD.
Generally speaking, a POMV plan would be a different formula based on the total value of the Permanent Fund, not just the interest. A percentage of the formulated amount would go toward the PFD, and the rest toward government. As different legislators proposed their bills, those percentages vary. A wide variety of POMV formulas have come before legislators during the last 2 sessions. Only one has passed both legislative bodies, and it did not address the percentage for the PFD.
There have been 3 years that our PFD has been taken from the people. The first year the Governor took approximately half of it. The second year the legislature took approximately half of it. This third year they took less than half. The first 2 years none of it was spent. It still sits in the Earning Reserve account. This year they spent some of it.
George believes that the PFD formula needs to be put in the Alaska Constitution in order to prevent legislators / governors from stealing part (or all) of it.
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Paid for by George Rauscher for State Office
PO Box 3838 - Palmer, Alaska 99645