New Alaska revenue forecast worsens state's big projected budget deficits

New Alaska revenue forecast worsens state's big projected budget deficits

The state of Alaska is still facing a significant budget deficit despite a revised state revenue forecast published Wednesday by the Alaska Department of Revenue. Oil revenue makes up about 40% of Alaska’s general-purpose revenue, leaving state finances unstable and dependent upon estimated oil prices. The Department of Revenue updates its outlook twice per year, and its changes can radically alte...