Permanent Fund earnings could run dry by 2026

During a regular APFC Board of Trustees meeting this week, CEO Deven Mitchell presented three scenarios of how the next upcoming fiscal years could go — including one in which the state would run out of funds generated by Permanent Fund earnings in the next few years.

“It’s just basic math,” Wielechowski said. “The state is pulling out more of the earnings than are coming in.” An Institute of Social and Economic Research at the University of Alaska Anchorage report titled “Permanent Fund Dividends and Poverty in Alaska” shows the Permanent Fund dividend has a direct impact on decreasing poverty in the state — especially in rural areas.

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