Dunleavy dividends: $2.4 billion yearly to economy?

Dunleavy dividends: $2.4 billion yearly to economy?

If Gov. Mike Dunleavy’s plan to “fully-fund” Permanent Fund dividends and to pay three years “underfunded”dividends is approved by the Legislature, the amount of dividends paid each year would total at least $2.4 billion yearly for three years. That compares to the roughly $1 billion to $1.2 billion paid out over the last three years. The future estimate assumes 600,000 Alaskans apply for and qualify percent, would be paid to the federal government in tax, and how much of the remainder would be actually spent in the Alaska economy is unknown. No good studies of the economic impact of PFDs exist but there is evidence that the effects are modest. Assuming the 2019 dividend at $3,000 (likely low), a PFD check of $4,061 would be issued later this year; a check of $4,289 in late 2020 and a check of $4,328 in 2021.

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