Alaska’s House of Representatives has passed a bill which sets the state’s annual PFD (Permanent Fund Dividend) at approximately $1,600 per person next year, an amount which has been confirmed after a hard-fought legislative battle over the size of the payment.
The PFD, which is funded largely out of oil revenues, has been reduced for the past couple of years due to low oil prices. In 2016, the payment, which had previously risen to about $2000 in 2015, was cut to approximately $1000.
In late March of this year, the Alaskan House of Representatives voted 21-19 to provide a dividend of about $2,700 per person, but after much debate this was reduced to the current figure of $1,600.
The bill will now go to Alaska’s Senate for further consideration.
Edited by: Dawn Howard