Why not just cut taxes to eat the surplus? They are giving money to people who did nothing to earn it. The people who generate wealth and jobs with their resources are the ones who will have the broadest positive economic impact. Tax cuts would be a sustaining gift to the state. This is just pandering, and is essentially something I would expect of Hugo Chavez.
Did you actually read the story?
“The money for the payments would come from the windfall surplus the state is getting because of the high oil prices and last year’s oil tax increase. The state could collect an extra $2.7 billion in oil taxes and royalties than had been forecast for the coming fiscal year — even if prices gradually decline over the next year, according to the revenue department.
The payments replace a proposal Palin had earlier pitched to give $100-a-month energy debit cards to Alaskans for a year. The governor said that turned out too expensive to administer and the debit cards wouldn’t work in 174 rural villages.
The governor is also proposing to suspend the state gasoline tax (eight cents a gallon) and marine fuel tax (five cents a gallon) for one year. Palin had previously called for $475 million in state grants to utilities so they would lower their rates for residential and business customers. The utility grants weren’t part of the bill Palin produced Friday for the Legislature. The governor’s office said the grants are still on the table but details have to be worked out.
Palin hopes to meet with legislative leaders next week to work out details of how and when lawmakers would consider her plan. They’re in special session now to consider her natural gas pipeline proposal. She said she wants the Legislature to deal with the energy-relief plan in the next month or so.”
No State taxes.
The Constitution of the State of Alaska Adopted by the Constitutional Convention February 5, 1956 Ratified by the People of Alaska April 24, 1956 Became Operative with the Formal Proclamation of Statehood January 3, 1959
Article 8 - Natural Resources
§ 1. Statement of Policy
It is the policy of the State to encourage the settlement of its land and the development of its resources by making them available for maximum use consistent with the public interest.
§ 2. General Authority
The legislature shall provide for the utilization, development, and conservation of all natural resources belonging to the State, including land and waters, for the maximum benefit of its people.
§ 3. Common Use
Wherever occurring in their natural state, fish, wildlife, and waters are reserved to the people for common use. § 4. Sustained Yield
Fish, forests, wildlife, grasslands, and all other replenishable resources belonging to the State shall be utilized, developed, and maintained on the sustained yield principle, subject to preferences among beneficial uses. § 5. Facilities and Improvements
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We must understand these natual resouces belong to the people of the state. We are all share holders just like a person could be a GM shareholder. The return from these shares are managed by the state. The state is now chaging 75% management fee. The share holders ( the people of the State) get 25%. The is like exxon ceo getting 100M and share holder getting what ever.
Geting the legislature to stop taking in too much money is the next step. giving them a rebate of their own money now is the first step.