Alaskans Expect Near Record 'Oil Check' WindfallPlay
On Monday, Alaska Gov. Bill Walker announces how much money Alaska residents will receive in a check from the state's savings account of Alaskan oil revenues.
It's a unique arrangement in the U.S. Last year most Alaska residents received nearly $1,900 each from the state's Permanent Fund, which was created by a voter-approved constitutional amendment in 1976.
This year's check is expected to be even bigger, even though the price of oil has plunged and the state has a $3.5 billion deficit, largely because Alaska's state government is almost entirely dependent on oil revenue to operate.
Matthew Smith, news director at KNOM in Nome, Alaska, tells Here & Now's Peter O'Dowd that residents of rural areas like Nome are particularly dependent on the yearly checks. He also says there's concern that some state lawmakers may instead want to balance the budget with some of the windfall money.
- Matthew Smith, news director at KNOM in Nome, Alaska. He tweets @MatthewSmithAK.
This segment aired on September 21, 2015.