Nick Begich III Scores a Big Win for Alaska - But There's a Catch

The Great Land's new Republican at-large Congressman, Nick Begich III, is proving to be everything his predecessor was not. Chief among the things he is is a tireless advocate for Alaska, and now we see he has scored another win for the Great Land.

But there's a catch. (There's always a catch.)

Alaska has, historically, received 50 percent of the revenue from federal leasing revenues. In the ongoing budget reconciliation process, he has managed to get Alaska's share increased to 90 percent - but not until 2035.

Congressman Nick Begich is flipping the script on Alaska’s share of oil revenues. In the budget reconciliation bill going through Congress, he has also thrown a life ring to Alaska legislators struggling to balance the state budget.
In what could be one of the most important developments for Alaska’s economy and ailing state budget, Begich, has advanced a budget reconciliation proposal to increase Alaska’s share of federal leasing revenues from 50% to 90% starting in 2035.
This would dramatically strengthen the state’s long-term fiscal outlook at a time when state lawmakers are looking to tax Alaskans and to actually dissolve their Permanent Fund dividends. This could instead grow the Alaska Permanent Fund dividend to new heights.

The Permanent Fund dividend (PFD), in case you're not familiar with that, is an annual stipend paid by Alaska to all residents of the state who maintained a permanent residency in the state during the entirety of the previous year. That payment has been whittled down in recent years, thanks to the state legislature's budget squabbles. But this could see the PFD bouncing back, which is good for Alaskans, especially low-income Alaskans who depend on that annual boost to stock up on supplies or help with things like home heating.

As for why most of the revenue splits won't increase immediately, that's another question. And, we should also note, the big, beautiful budget reconciliation still awaits approval by the House and also in the Senate, where the GOP margin is uncomfortably close.

But then, there's this: Nick's win here, this big fiscal boost for Alaska, will make it difficult for the knee-jerk anti-Trump Princess Lisa Murkowski to vote against the reconciliation package. That will be an interesting vote to watch. Our junior Senator, Dan Sullivan, I'm guessing, is a safe "yes."

Alaska GOP Clears First Hurdle in New Attempt to Repeal Controversial Voting Scheme

Here are the specifics for Alaska:

The budget reconciliation proposal mandates a wide slate of energy development measures to get that revenue going, including:
Six offshore lease sales in Cook Inlet in the next 10 years with 90/10 revenue split immediately
Four lease sales in the Arctic National Wildlife Refuge, 90/10 split starting in 2035
Biennial lease sales in the National Petroleum Reserve–Alaska, 90/10 split starting in 2035
These provisions are projected to generate $18.5 billion in federal revenue and savings, which would help reduce the nation’s budget deficit.

We should note that the Cook Inlet sales won't be online for some time.

Nick Begich is doing a great job for Alaska, and this should also remind us that the effort to Make America Great Again requires much more than just the Trump administration. We need reliable, fiscally conservative Republicans in Congress, we need solid elections, and we need to vote. Every time, get out and vote. Nick Begich III is just one example of why, in the upcoming mid-terms, we will need every single vote to keep Congress in Republican hands.

There are more people than just President Trump and his cabinet working to Make America Great Again. Our Republican members of Congress are also keeping up the fight..

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