News from the Alaska State Legislature, the Office of Senator MacKinnon
For Immediate Release: July 21, 2017
Legislature to Finalize Capital Budget Next Week
ANCHORAGE – The Alaska Legislature will reconvene in Juneau next week to finalize the Fiscal Year 2018 Capital Budget following an agreement reached by both bodies.
“I am pleased with the spirit of compromise both bodies had when negotiating the final agreement,” said Sen. Anna MacKinnon, R-Eagle River, co-chair of the Senate Finance Committee. “Alaskan companies, families, and individuals rely on capital dollars turning in our economy. Reaching this agreement was critical to secure federal funds and ensure projects are not jeopardized during the short Alaska construction season.”
The FY18 Capital Budget will provide a boost to the economy, leveraging nearly $1.2 billion in federal funds to help pay for roads and bridges, and ensuring important infrastructure projects move forward.
“We worked out a compromise with the Senate to ensure that there would be no delay in this summer's construction projects,” said Rep. Neal Foster, D-Nome, Co-chair of the House Finance Committee. “In order to do that it is important that we pass a capital budget in the next few weeks. Foremost in our minds are the thousands of jobs and over a billion dollars in federal funds that are helping to keep our economy strong.”
Details of the compromise agreement are expected to be presented next week, prior to the start of the legislative session.