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    Dunleavy renews call for constitutional amendment as Permanent Fund hits record $80.1 billion

    By AlaskaWatchman.com

    The total value of the Alaska Permanent Fund has reached an all-time high of $80.1 billion this week, prompting Gov. Mike Dunleavy to reiterate his plan to create a constitutional amendment to protect the fund and ensure that future generations of Alaskans can continue to enjoy at least 50% of the annual draw from the fund.

    “The Permanent Fund has done an exceptional job and we are seeing the highest returns ever in a single year,” Dunleavy said of the record-breaking week. “Following a year of hardship due to the pandemic, the Permanent Fund will undoubtedly be a key financial resource for the state and Alaskan families.”

    Established 45 years ago with an initial deposit of $734,000, the Permanent Fund’s total value – including principal and earning reserve account – has grown by more than $80 billion. As of May 27, the Fund was $80,096,600. Over the past decade it has doubled in size, and last year it earned a staggering $15 billion.

     “I want to thank the Alaska Permanent Fund Corporation for having the courage and vision to continue following their prudent investment strategies to reach this momentous high-mark,” Dunleavy said.

    He has called a special session of the Alaska Legislature to pass the FY 2022 budget and consider his constitutional amendment (HJR 7) to protect the Permanent Fund and Permanent Fund Dividend. Nearly 100 people testified on the proposal during a May 24 hearing in the House Judiciary Committee. The bill is currently in the House Judiciary Committee and is scheduled for its next hearing on June 2 with invited testimony only.

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    Joel Davidson
    Joel Davidson
    Joel is Editor-in-Chief of the Alaska Watchman. Joel is an award winning journalist and has been reporting for over 20 years, He is a proud father of 8 children, and lives in Palmer, Alaska.

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    10 Comments

    1. I wonder if President Trump’s presidency has something to do with this success. The year is still early. He put America at its strongest and greatest point in history, it’ll take at least a year to unravel that success. I wonder what is it going to look like next year under Biden/Harris presidency? I bet the PFD is going to decline over next three years starting next January because of President Biden.

    2. Over the last couple thousand years, it turns out there are not many guarantees. So, as far as the eye can see, I think Gov. Dunleavy is heading in the right direction on this issue.

    3. What don’t you people, (Juneau legislators) understand.
      ITS THE LAW, to give us our PFD. Funny how they push new laws, but don’t follow the laws. That are on the books and passed by the state of Alaska.
      It’s are money not yours.
      Stop trying to control my life on telling me how to spend my money.

    4. One guy has the authority to open up constitution?. It’s like a can opener eh? I don’t think so. Not even a President has the authority. Only WE THE PEOPLE! CAN call for a convention cuz that’s what opens a constitution lawfully. I don’t hear us calling for a Convention. Do you?

    5. Legislature, our servants don’t dictate to us and neither does a governor cuz thats a tyrant form of government. We have a permanent, guaranteed republic. The Governir executes our directives. The legislature is not a convention that we called. They aren’t sovereign. We are. No Constitution amendment. Do not usurp powers you do not have

    6. The lawful way to “amend” a constitution is the same way it was created. With a we the people driven, initiated organized called convention for the purpose of rewriting a Constitution once and for all time. The legislature electees are not necessarily the representatives at a convention. It’s a dangerous all new day of re-creation of government not for transient light reasons unless the people are imbiciles like they are in Alaska. One man does NOT have the authority to call for new tyrannical government style of his angelic choosing. Sorry guy. You way UN Constitutional today. Surprised nobody mentioned this to you yet. Why does it always have to be me.

    7. So what if an “amendment” purported to amend our permanent Constitution adjoining Alaska permanently as a country/state bound permanently into the Permnently United States gets unlawfully not using THE PROCESS DUE to fiddle with it? It is a fraud at best and void for effect. Do you mind terribly doing what is right for a change? For the best result.

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