House and Senate look to limit Permanent Fund dividend to $1,000 — this year and permanently

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In 2018, the bumper sticker for then-Gov. Bill Walker claimed that Walker and Lt. Gov. Mallott “SAVED THE PFD FOR FUTURE GENERATIONS.” Walker vetoed half of the dividend that year. His bumper sticker was saying, essentially, he had to burn the village to save the village.

Seven years later, the PFD is still being burned. Now, it could be reduced to ashes for some Alaskans.

House Bill 209 by Rep. Zack Fields sets the PFD at a flat amount of $1,000, but would eliminate the dividend for anyone making over $50,000 a year (or $100,000 per married couple.)

In other words, the dividend would no longer be a share of the oil wealth of the state, but instead would be a welfare payment. HB 209 has been referred to House Judiciary and Finance Committees and is unlikely to pass both bodies this year due to the looming legislative deadline of May 21. It will be on the calendar for Judiciary on Monday.

“Payment of PFDs based on a 1982 formula is no longer practical,” said Fields in his sponsor statement.

Meanwhile, the Alaska Senate may cut the Permanent Fund dividend this year to $1,000 — its lowest level in history, when adjusted for inflation. It’s also lower than what the House passed earlier this year, $1,400.

The reduction in Senate Finance Committee trims an estimated $265 million from the Senate’s version of the budget, potentially bringing the state’s finances into balance without requiring new revenue sources or tapping more heavily into savings. The full Senate is expected to vote on the budget proposal next week. Ironically, several revenue bills are also awaiting action in the House and Senate, such as the controversial Etsy Tax, SB 113.

The PFD, distributed annually to nearly every Alaska resident, is a unique program Alaska lawmakers set up in 1982 that returns a share of the state’s oil wealth to its people.

The wealth originates from the Alaska Permanent Fund, a constitutionally established fund created in 1976 to save a portion of the state’s oil revenue for future generations and to eventually pay for state services when the oil runs out.

Dividend payments began in 1982, via statute rather than constitution, and were intended to ensure that Alaskans directly benefit from the development of natural resources, since private landowners in Alaska do not hold subsurface mineral rights — those belong to the state.

Historically, PFD amounts have fluctuated with oil revenues and investment earnings, but the dividend has become a contentious political issue in recent years as lawmakers find it easy to spend when oil prices are high, but can’t manage to trim when prices slip.

While earlier PFDs regularly exceeded $1,000 — and in some years, such as 2008 and 2015, approached or surpassed $2,000 — recent fiscal pressures have led to smaller payouts. The Legislature has increasingly used Permanent Fund earnings to pay for essential government services, squeezing the portion available for dividends.

This year’s proposed $1,000 check would be the lowest in real, inflation-adjusted terms since the dividend’s inception.

Historical Permanent Fund Dividend Amounts (1982–2024 not adjusted for inflation)

YearDividend Amount
1982$1,000
1983$386.15
1984$331.29
1985$404.00
1986$556.26
1987$708.19
1988$826.93
1989$873.16
1990$952.63
1991$931.34
1992$915.84
1993$949.46
1994$983.90
1995$990.30
1996$1,130.68
1997$1,296.54
1998$1,540.88
1999$1,769.84
2000$1,963.86
2001$1,850.28
2002$1,540.76
2003$1,107.56
2004$919.84
2005$845.76
2006$1,106.96
2007$1,654.00
2008$2,069.00
2009$1,305.00
2010$1,281.00
2011$1,174.00
2012$878.00
2013$900.00
2014$1,884.00
2015$2,072.00
2016$1,022.00
2017$1,100.00
2018$1,600.00
2019$1,606.00
2020$992.00
2021$1,114.00
2022$3,284.00
2023$1,312.00
2024$1,702.00

106 COMMENTS

  1. This is a bunch of crap. I knew this was gonna happen. There is a memo of Zack Fields being the culprit of this idea. I have the picture of his letter.

  2. WE DESERVE OUR RESOURCES AND MONIES FROM IT! NEVER TO BE YOU BUDGET BALANCER ! Matter of FACT. …WAS TO KEEP YOUR HANDS OFF! It’s REALLY A BAD LOOK TO ALL OF YOU FROM ANTI~ALASKAN BILL WALKER DOWN!
    HOPE YOU ALL ENJOY THE OUTCOMES OF A BROKE STATE FOR MANY MANY MORE HOMELESS AND THOSE DEPENDENT ON MORE GOVERNMENT! Shows a PITIFUL GROUP IN OUR STATE JUST LETTING IT DIE AND LET THE PEEPS FALL WHERE THEY MAY ! RIP ALASKANS! They’ll leave with LUCRATIVE RETIREMENTS ON OUR BACKS!
    Used to be …YOU PAY BACK YOUR PFDS!

  3. ““Payment of PFDs based on a 1982 formula is no longer practical,” said Fields in his sponsor statement.”

    I think it’s even less practical that people keep voting in Fields, et. al. These people have no compunction about breaking Alaska law.

  4. What legal basis does the legislature have for denying us our dividend? The State Constitution states that the proceeds from natural resources belong to the people, not the government. Walker raided the fund, but with no legal basis. I’m not a lawyer and I’m not made of money for lawsuits, but it appears an enterprising law firm could be filing a class action suit for the entire population of the state to recoup money stolen by the governors and legislatures. Why is this not happening?

    • Tamra, it occurs to me that there is a legal principal called original intent. What was the P-Fund created for? Was it to fund Government? I do not recall that argument back when we voted for the amendment. In fact what I remember was hearing the Funds Creator, Oral Freeman say just the opposite. When I asked him if he envisioned any part of the fund being used to pay for government his answer was a resounding “Hell N0!”
      Oral foresaw that political, (think alphabet names) parasites would gobble up every last penny of the oil revenue and leave the State and it’s people poorer.

      I agree that we need to pursue every avenue possible to stop this theft of the peoples $. What we do? I dunno but we better get started doing something!

          • That’s pretty hard to do when you don’t qualify for a PFD when you live in washington. Did you write this from the steps of washington state university while you were “holding strong” with your antifa comrades..? /s It’s sad when you’re a liar and we all know you’re a liar. Snivel somewhere else.

            • Lived in Alaska for years but no longer due to family responsibilities. Never took welfare of any sort, donated many of my PFDs to charity while I lived there. So please stop bashing me when you’re way off base.

      • It’s out money, not the governments. They can’t stop their spending habits. What’s jr matter to you Washingtonian? You have much bigger problems

      • It’s not their money. It’s ours.

        Yet another demonstration by democrats and their fellow travelers that theft by pen is a lot more fun than theft any other way. Cheers –

      • Do some research, Whid. You really do come off as uninformed. Or maybe it is just your natural animus to people who know the truth. The PFD was never intended to fund government. There are plenty of resources for that outside of the money that belongs to the people of Alaska, and it is a fact that the State Constitution allocates the revenue of the resources of the state to the people and not the government.

        • Letting the Government use the fund to provide support and services to the population benefits you just as it would were it given directly to you. It also obviates the need for direct taxation.

          But if you really want and ever get that “full PFD”, you’d better be prepared to give some of it back in income taxes, because an eviscerated state government can’t do all that you will still expect from it without adequate funding.

          • Worry about your own state. No income tax as the legislature cannot be trusted. Sales tax only, too bad for the villages, they chose to live that lifestyle.

            • Alaska still is my state. Even thought I live elsewhere now, I still have significant financial interests in the state after living there for 35 years.

          • They will first take the PFD, then they will say in a year or so that they need to tax us too. They will do both. They want the PFD first though, and have an excuse to take it.

        • The PFD is the largest funding source for the state. It is no longer oil revenues. With prices heading towards sub $50/barrel, the producers are going to start losing money.

    • Tamra,

      Please read the Alaska Constitution. Once you are familiar with the basics of our constitution you can help fight for a fair dividend by arguing from a perspective where the facts and law are on your side.

      The legislature appropriates money. That is their job. The governor can then veto those appropriations. This includes ANY funding in the budget for dividends.

      Having said all this, you are indeed correct that the natural resources belong to the people. But very, very powerful and wealthy corporations greatly influence what the legislature does, and even who gets elected. It is those corporations that have ensured Alaskans do NOT get a fair return for our finite natural resources. Because we literally give away billions of dollars of resources every year we simply do not have the money any more to fund services and provided for full dividends.

      Want a full dividend? Get a fair return for our oil and gold- like we used to. When we got a fair return for our oil we got FULL dividends.

      • Why do you suppose I haven’t read the constitution? My point was your point, that the resources belong to the people. Dividends are not part of legislative appropriations–it is a fund that produces based upon how it is invested, and the dividends are computed from the proceeds. Raiding that fund prior to sending out dividends appears to break the law put in place to establish the fund. No idea why they get away with it, or why no legal experts have challenged that.

        • Tamra, you should really read the Alaska Constitution and learn how money can be drawn from the state treasury for appropriation.

          No legal experts have challenged this because what the legislature appropriates is their constitutional prerogative.

      • Nothing new here, M&N advocates for government largesse at the expense of private individuals and business. A friend of big government leftists like Walker, Mallott, and Brena.

  5. Senator Hoffman and Speaker Bryce Edgmon have zero intentions of protecting the PFD.

    It’s their stated mission to get rid of it and use the funding for government.

    • Willy, do the Y-K residents realize that Hoffman wants to stop mailing them & their children PF checks & instead give the money to the teachers?
      If someone ran on just that, they might get traction down there.
      Fields is my Rep
      He mostly cares about college educated Yuppies that will move to AK for cushy NGO/Gov jobs; not us.
      He will deny money for AK families & instead re-direct it to these outsiders that he favors.

  6. They might as well shut down “pick, click, give” now. There won’t be anything left for the ” give” part . I’m sure they’ll be GLAD to TAX!!! Tax! tax us to make up for it

  7. It’s “not sustainable” because the state won’t stop unnecessary spending. And because the legislature flatly refuses to follow the statute.

    Please no one say they are surprised. This was the goal all along. Eliminating the PFD. Up next? The corpus. That’s too much money to leave alone.

    Not legal? Since when has that mattered?

    • No, we’ve been spoiled by the peculiarly American concept that what’s ours is damn well ours, Giessel and Edgmon and the rest of the lobbyist-legislator team be damned.

    • Oh due tell how we have been spoiled by big PFD dollars. We have had 2 that were $2,000. The real ones that were to be big were split by and Stolen by Bill Walker and the legislature. Pretty disgusting to tax man, woman, and CHILDREN. I did not know that children should be taxed because SOA legislature are not able to control their spending, as well as not willing to live like the peasants

  8. “The Legislature has increasingly used Permanent Fund earnings to pay for essential government services, squeezing the portion available for dividends.”
    Essential services is a misnomer. A good part of the bloated budget is far from essential.

  9. All you Anchorage and bush democrat voters, your socialist party is taking your PFD away from you since they know how to spend it better than you.

    • The lib ANC voters are, for the most part, GOV/NGO employees (active & retired)
      They don’t need the PFD money, they are very well off.
      Typical, blue city, 1930’s, ‘machine ‘ politics.
      Nothing new under the sun.

  10. When I grew up theft was a crime! How long will Alaskans allow their local politicians to steal from the permanent fund? Or will they just give the farm to the politicians? The same politicians that don’t know how to balance a checkbook.???

  11. The pfd fund is worth somewhere near 76 billion dollars right now or more. Giving the recipients the agreed upon amount as was originally intended will not harm the fund at all. If everyone were given $3000 it would only take out less tahn 2,100,000,000. So tell me again why the elected officious types don’t want to follow the letter of the law.

  12. I have lived in Alaska since 1965. I would be more than happy to get rid of the PFD permanently!!! I guarantee that the population will decrease very fast! I’m sick of the freeloader’s
    that has come to Alaska because of the PFD!!!

  13. I’ve known in my gut for many years that our legislators in Juneau were going to succeed in stealing “the people’s money”.
    They keep insisting that they simply CANNOT cut the budget, while funding things like the corrupt boondoggle in western AK of paying 10 times for hardwire internet services, over what Starlink could easily provide it for.
    We can thank CCP Bill Walker and his corrupt judge for opening this can of worms, and also thank Sarah Palin for endorsing him for governor over the much much better candidate, Sean Parnell….

  14. The real question is, where is the money that should be in the PFD by statute going? Start with the inflated salaries and per diem the legislature keeps hiking for a mere four months’ work….

  15. The legislative legal department must be sleeping on duty. As HB 209 is unconstitutional and Alaska will see another Ron and Peggy Zobel emerge. Suing the state and legislature. The pfd is derived from mineral resources of the state. Paying it to only those under a income threshold is unconstitutional..

    • Kelly, I was thinking the same thing when reading the article. I remember well, when Ron and Peggy Zobel challenged the PFD original concept in court and won. We need someone to fill their shoes NOW!

  16. The Alaska Permanent Fund provides most of the money to fund the annual budget. Because of SB-21 and the giveaway of Alaska’s oil, we’ve lost billions every year from the sale of our oil. Alaskans have been subsidizing that theft with their dividends for years now- at a cost of over $60,000 for a family of four. That adds up to $10 billion dollars in reduced dividends- because Alaskans are dumb enough to give away $14 billion dollars of oil per year. Isn’t it great when the little guy subsidizes massive corporations?

    Soon, there will no longer be a dividend. And Big Oil will be working to change the Alaska Constitution in order to use the corpus of the Permanent Fund to subsidize the continued theft of our oil.

    You’ve already seen the op-eds published on MRA advocating for going into the corpus of the fund. We can soon change the name of the Permanent Fund to the Temporary Fund.

    Bye bye dividends. (Or, get a fair return for our oil.)

    • Nothing new here, M&N advocates for government largesse at the expense of private individuals and business. A friend of big government leftists like Walker, Mallott, and Brena.

  17. Don’t be too rough on the bushrats that set up the PFD system. Not realizing the invasive species of politicians would spread across the state in less than two generations, I am sure Jay Hammond is rolling over in the grave.

  18. Shame on you are state lawmakers. The PFD is a constitutional right to for a payout to all citizens of Alaska. Shame on you for stealing the money and not keeping our budget in balance keep your fat hands out of our account.

  19. The PFD was to compensate Alaskans for taking away our mineral rights. Is Zack Fields going to give us back our mineral rights now?

  20. ….and what happened to the two clowns, Walker and Mallott? One had to run and hide into retirement because his running mate and soul partner was a pedophile. The other is dead. Will the Future Generations remember them? Hardly.
    .
    In order to reduce the Dividend down to chicken scratch in perpetuity, first the statutory requirement for a new method to compute the dividend will require a repeal of the old statute.

    • Yes..these were the IDIOTS who stole our PFD from us..NOW, JUST what are the steps to delete their”gimmicks” and return the PFD..(POMV) needs to be changed and get our PFD back..Who/what is going to get the legistlation to retuen it back to us??…Gov DUNLEAVY…PLZ…PLZ help us get our full PFD amount back and keep it from the idiots in the legistlature. REPEAL..REPEAL…REPEAL. WE NEED TO GET RID OF THE POMV crap.

  21. Damn THIEVES.
    Mr. Musk, when you’re done with D.C., please come to Alaska – we need a serious DOGE and a House (and Senate) cleaning.

  22. The Pirates of JNU will take it all the way down to zero… Then guess what they’re going to come up with next ???

  23. This is what happens when you don’t vote. And the ones that complain the most are the ones that don’t get off their a//es and vote. The voting record of Alaskans is abhorrent.

  24. Alaskans had a deal with the state back in 1982. We gave up our sub-surface mineral rights in exchange for the 1982 dividend formula. Not really sure why Alaskans can’t just sue the state for a breach of contract. A deal is a deal

  25. Walker didn’t save the PFD for the future He used it for his piggy bank, Hiding in JNU makes them brave! Democrat=Pure Greed

  26. Governor Bill Walker did a heroic thing when he vetoed half the PFD in 2016. He knew he was probably sacrificing his future political career, but he did it anyway, because the legislature was too timid to do what was necessary. The price of oil crashed in 2014 and 2015, and Alaska then became hammered with yearly multi-billion-dollar deficits, and was about to go off the fiscal cliff. The legislature had to suck down Alaska’s CBR savings account to bridge the chasm. But Walker’s brave action provided cover for the legislature to enact SB-26 in 2018, which allowed the state to start an annual draw of 5% (Percent of Market Value) from the Permanent Fund to help pay for state government services, which was the eventual ultimate purpose of the fund when it was created in 1976. I never voted for Bill Walker (I’m a Republican), but I’ll always admire his courage.

    • You must be kidding. Bill Walker was a phoney and tried to cover up pedophilia in the Lt. Governor’s Office. The people of Alaska had enough of lying Bill Walker. And if you don’t like your dividend, you can send it to your favorite defense attorney who protects pedophiles for a living.

    • Courage would have been to cut the government commensurate with income. Instead, he stole from the people to pay his cronies. You may admire his weaselly explanations, but I for one think he was mothing but a coward.

    • You almost got it perfect Randy, but you made an error. Alaska changed its oil severance system and because of that we get the least for our oil from any major field in the world. We’ve lost billions of dollars, and the dividend was reduced. Walker had nothing to do with changing the oil taxes- its a mess he inherited from Parnell. But Walker gets all the blame, and that’s unfair.

      • Walker didn’t get to cut a gas pipeline deal with his commie buddies in China. Bowing to the commies is one thing. Trying to give away Alaska’s resource wealth to Chinese commies is another thing. Walker deserved the blame. And he got it in spades during his LAST election. Bye-bye Bill Walker.

    • Government spending more than tripled in a few short years while oil prices and oil taxation were both at record highs. The legislature has never corrected this error, instead they SPENT our reserves to unsustainably prop up government spending. Now they are looking for another source to supply their addiction.

      Bill Walker didn’t show courage by any understanding of the word, he did the easiest thing he could do to not wean those who are addicted to government spending off of it. It was easier to betray the voters who removed him from office than to do the job he was elected to do. He could have tried to set Alaska on a sustainable fiscal course and he took the easy way out, that’s not courage, that’s cowardice by any measure.

    • Randy Griffen,
      If you don’t like your PFD, send it back to the State. It’s that simple. But don’t deprive other Alaskans who need it and will use it to stimulate the Alaska economy. The PFD is a lawful dividend and enshrined in code. And calling Bill Walker courageous is akin to calling the suicidal 9/11 terrorists courageous. Get a grip, dude.

  27. Too bad we conservatives have to lose this battle BUT the good news is——The leftist RINO’s and democrats screwed the leftist RINO’s and democrats!
    When will the people of Alaska finally step up and kick these pseudo aristocrat maggots the hell out of office?

    • Never
      We are a Government state … FDR’s “colony” … WW2 – Alcan Hwy … Big Military … F&W … BIA … FAA … etc
      How many posting here were sent up by the Government?
      Generally, Pipeliners came & went, but Gov folks have good money & great security; they settle in.
      And they vote

  28. Until we rein in the constant greed of the public education lobby in Alaska we can kiss the PFD goodbye! Absolutely, do not vote for any incumbent or candidate who is connected to the public education cabal. The legislature is infested with them and they will continually throw good money after bad into a failed system as long as it provides them with pay raises, Cadillac medical insurance & great retirements.

  29. Courage? Randy, you really missed this one. Walker has been hiding for the past 6 years. That’s courage? He violated Alaska statutory code in order to save his union friends. That’s not courage, that’s the opposite……….fear.
    If you don’t want your PFD then return it to the state and it will proceed to the General Fund. But don’t come here and protect your courageous Bill Walker for not following the law.

    • Elaine. I did send my 2024 uncashed paper PFD check ($1702) back to the Alaska Department of Revenue. In my letter to them, I specified that I wanted it donated to the Alaska general fund. I did not feel comfortable keeping it, because of the forecasted deficits. Also, the legislature has not replenished our CBR savings account, though the law says it should be.

      • Randy,
        That’s not a donation. That’s a repudiation. The state will use your money to hire another government employee. But I do respect your viewpoint and your candor. At least you aren’t a government hypocrite.

  30. An off the wall thought just meandered through my head… What would it take to limit the “lawmakers” time in Juneau, other than moving them to Willow, which has already received a green light by the voters?
    If extending the original work sessions (complete with overtime pay) was not allowed, or work without pay, would they get busy and get through more items? It seems to me the compensation is too enticing for them to get much done.
    Or go back, way back, to the days when there was no pay other than satisfaction of helping your state, country and fellow man.

  31. State of Alaska has a major problem. They are compulsive spenders and it’s not their money being spent; it’s ours. They can control themselves they need help. Can we get an outside independent DOGE to come and investigate where our money is being spent?

  32. It certainly would be nice if a real Man would run for Governor. Excuses walk! Dunleavy could have done something about this but he didn’t. He is a two-faced limp noodle that got elected to protect our dividend. There was no other reason. But he didn’t! You can always be gauranteed leftist will justify steeling the taxpayers’ money however they can. It’s simple, Dunleavy has the platform to make the lives of all of those in the legislature a living nightmare until they cave. I would! They all make me sick!

  33. I’m old enough to remember when monkeying with the PFD was touching the third rail and ending a political career.

    Now we send the same lying “republicans” to Juno and they join the Ds.
    Sad.

  34. If anybody thinks that taking the PFD will stop a state income tax, your a fool! this is just the first step. Coming soon, No PFD, a State income tax and a brand new shiny sales tax for Los Anchorage (to pay for their pet homeless projects). Alaska is the newest addition to the left coast. Spineless Governor, one senator is truly a full blown democrat. The other, well, must be hiding somewhere . I think he’s running scared most of the time.

  35. This is what happens when Republicans sit out elections and do not show up. There’s more to elections than simply electing a president.

    Democrats have taken over this state, along with quite a few squishy Republicans. We are heading toward Washington or Oregon politics here. I don’t blame the Democrats- a tiger doesn’t change his stripes. This is the Alaskan voter apathy, of those so-called Republicans, who love to whine about government, but decide not to get up off their couch and do something when it truly matters most. The Dems don’t sleep and sit out elections. Most times they have a financial stake in the elections and are going to the polls to vote themselves a raise. So, if we want to change Alaska for the better, then we better get up and stop talking and start doing.

  36. PFD and taxes. Politicians will take and take. Looking to retire…..likely not here, where I was born. Its gone to hell in a hand basket.

  37. Reduce it so they can spend more on welfare??? Cause that’s what this state needs… more useless 3rd world illegals imported in. We have enough useless welfare ppl already that don’t want to work.

  38. Considering how much some people rely on the PFD for survival, any move to use the legally designated funds for any other purpose than the legislated full PFD amount is the equivalent of stealing someone’s horse or snow machine. The Old West had a remedy to deal with horse thieves. Where are the sheriff and his posse when you need them?

  39. It’s time for the citizens to rise up with a viable third part and throw out theses self serving politicians that don’t represent us but rather represent their own financial interests (ie lobbyists, special interest groups and dark money). It’s time for a constitutional convention so that we rake back the power from the parasites and force through meaningful reform

  40. So they want the PFD to be a welfare payment and to limit it so they have more money to waste on their pet projects? For those of us that have lived in this state since the late 50’s and early 60’s it is a slap in the face. This state is ridiculously expensive to live in and the income limit is a joke. How do they propose to police that? I will be damned if I am giving them paystubs or my income tax return. Talk about an infringement on our rights to privacy. Field’s bill should fail, and if it doesn’t the Governor should veto it. Otherwise be prepared for many of the senior citizens who worked hard to build up this state, and who spend considerable amounts of their income here, to move to a more affordable state.

  41. Conspiracy theorist: who is to say that the Politicians who are making these “decisions” for AK, pretty much Raping all the Natural Resources in/around AK (supposedly the STATE collects lots of money for Selling off Fishing and Oil Resources to companies outside of the state), Taking/Spending Money like crazy, are not voting themselves into Office over and over?? It seems like the MAJORITY of the Alaskans are Against all their “decisions”, and yet, they continue to Remain in Office even after we “vote”?? Is there anyone auditing the Ballots every election for Cheating?

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