Alaska Senate set to sock away billions for rainy day

The State Senate today passed a supplemental budget that increases the current fiscal year’s spending. While its normal purpose is to cover unforeseen expenses that have arisen since last year’s budget was written, this year the Senate is using the plan to increase the amount of money not spent — putting $2.6 billion into the Constitutional Budget Reserve and another $1 billion into what might be called short-term savings — the statutory reserve.

Dave Donaldson, APRN – Juneau