This legislation is the first step in developing a new long-range fiscal plan for Alaska.
Most state spending is guided by statutory formulas or provisions.
Therefore, to make significant additional efficiencies and reductions, statutory changes are needed. But the first step in such a plan should be continued government reforms to create a more efficient and fairer state government. Only after such needed reforms should Alaskans be asked to consider any major new taxes. Requiring Proration of Benefit Payments Annual savings depends on program funding levels in budget. Constitutional Spending Limit Provides a needed step to ensure future fiscal discipline and help limit growth in the State's fiscal gap.