Legislators arrive in Juneau: Meet grim budget reality
The state Legislature convened its 2016 regular session Jan. 19 amid fresh concerns about plummeting oil prices and state revenues. It’s isn’t a pretty picture: Back-to-back $3 billion-plus budget deficits and draws from state cash reserves. If there’s a silver lining it is this: Pressure is growing on legislators to adopt a fiscal plan, tapping other resources, such as investment earnings, to offset lower oil income. Several Senate leaders have endorsed the idea of using Permanent Fund earnings, but the…