I’m $1,100 richer today. So are a lot of other Alaskans: The Alaska Permanent Fund will distribute about $672 million to residents young and old.
Even toddlers will get that $1,100 direct deposit or check. That blows minds in the Lower 48, but it seems totally normal here.
It was supposed to have been more; one recent estimate was about $2,300. But this is the second year in a row that Gov. Bill Walker capped the Permanent Fund dividend, resulting in some serious outcry from eligible recipients.
There’s a reason for that. According to a study from the University of Alaska’s Institute for Social and Economic Research, the PFD has traditionally lifted 15,000 to 25,000 Alaska residents out of poverty. The study also noted that reducing the check by $1,000 would likely send 12,000 to 15,000 more Alaskans down below the poverty line.
The annual payout is particularly important in rural Alaska: Without it, more than 20 percent of Bush residents would fall below the federal poverty threshold. I believe it, given the high cost of living out there. (Hint: If you think you pay too much for milk in your city, imagine forking over $10 a gallon.)








