The Institute of Social & Economic Research

The Alaska Citizen's Guide to the Budget

Financial Assistance
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Fiscal Policy Council of Alaska

Comparisons
The Fiscal Gap
What is it?
New Revenues
Principles
A Generic Fiscal Plan
Other Proposals
Bogus Solutions

 

 

5. The Fiscal Gap

5.2 New Revenues to Fill the Fiscal Gap

Any solution to the fiscal gap problem will require new revenue sources. Here is a long list of potential sources, but with the exception of a broad-based personal income or sales tax or use of some of the earnings of the Permanent Fund, none have much near-term revenue-generating power. Only additional oil revenues could produce more than $100 million a year in the short run, but this would probably reduce oil revenues in future years because it would reduce the profitability of new investments.

The fiscal gap is a problem we must face today. Potential revenues from construction of a gas pipeline or the opening of the Arctic National Wildlife Refuge (ANWR) are too far in the future to help, and their revenue-generating power, taken together, would not be enough to get the job done.

A new revenue source that really helps to close the fiscal gap must be BIG, SUSTAINABLE, and AVAILABLE.

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Page Updated April 7, 2003

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