Friday’s Fast Five

Headlamp wants our followers to always be up to date with the developments in Alaska’s economy, politics, and industry. Check out this week’s rundown of the stories affecting you.

Top Story of the Week

This week, revised versions of Governor Walker’s HB 247 were approved by both houses. Despite technically being the same bill, House Bill 247 that passed the House May 13 is vastly different than the version of HB 247 that passed the Senate by a 14-6 vote on May 18, the last day of the session allowed under the state Constitution. Governor Walker also called a special session to solve the state’s ongoing budget crisis.

Top Reads of the Week

Alaska Legislature adjourns with work still to do, called back by Gov. Walker
Alaska Dispatch News, Nathaniel Herz, May 18, 2016
Alaska lawmakers failed Wednesday to broker a last-minute deal on the state budget or oil taxes and adjourned their regular session after 121 days — leaving a spending plan and deficit-reduction legislation for a special session called immediately by Gov. Bill Walker for Monday in Juneau.

AJOC EDITORIAL: Money for nothing and the checks for free
Alaska Journal of Commerce, Andrew Jensen, May 18, 2016
With apologies to Dire Straits, the demagogues in the Democrat ranks are back in their comfort zone after dismantling oil and gas tax credits they once championed under ACES by winning over enough squishes among a Republican-led Majority that now exists in name only.

S&P notices lack of budget fix
Alaska Journal of Commerce, DJ Summers, May 19, 2016
Credit ratings agency Standard & Poor’s released a statement on May 19 warning the Legislature once again that a failure to address the $4 billion budget gap may further lower Alaska’s credit rating.

Quote of the Week

“Amnesia can be very convenient. But don’t Alaskans deserve the facts?”Sen. Cathy Giessel, R-Anchorage