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On Tuesday, the Alaska Senate approved a state spending package that includes $5,500 in cash payments to Alaskans.
5500 Stimulus Check
The package includes dividends of about $4,200 to residents this year, as well as "Energy Relief" checks of $1,300.
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Alaska's vote comes as a number of other states consider sending more direct payments to their residents as Americans continue to grapple with record high inflation and rising gas prices, fueled in part by Russia's war in Ukraine.
The package passed 5-15 and is sent to the House, which will decide whether to accept the Senate version.
The House approved a version of the budget last month that included a dividend of about $1,250 and a $1,300 energy audit.
Lawmakers have been divided in recent years over the size of the dividend, which has traditionally been paid out of the state's oil world fund, known as the Alaska Permanent Fund.
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The Alaska Senate passed a spending package Tuesday that includes a $5,500 stimulus package for Alaskans. The package now goes to the State House for approval. Pictured, economic stimulus checks are being prepared for printing at the Philadelphia Financial Center in Philadelphia. Jeff Fusco/Getty Images
During budget debate Monday, the Senate voted 10-9 to approve an approximately $4,200 dividend.
A dividend of that size would cost nearly $2.8 billion, and the cost of the proposed energy payment is estimated at $840 million, the Associated Press reported.
Supporters of the Senate budget argued that Alaskans would benefit from financial aid, while critics raised concerns about possible financial consequences.
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Alaska House Speaker Louise Stutts, a Republican, criticized conservative lawmakers in the state senate for voting on a budget that could dig deep into the state's savings.
"We have all these conservative people who are cutting nickels and slashing various taxes and saying we need to save money," Stutz said.
"The House - our expectation was to put a lot of money in a savings account. Well, that's just shut down in the Senate. All the conservatives just spent all our money, all our savings account and money that we don't. Have." You haven't got it yet."
Stutz said he expects the House to vote on the Senate's budget Wednesday night or Thursday morning.
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The Alaska State Legislature has until May 18 to approve a budget or be forced into a special session.
Stimulus checks to ease the financial toll of the COVID-19 pandemic have been incredibly popular, with millions of Americans signing online petitions calling for more direct payments. If you live in the state of Alaska, United States, you can be in line for direct admission. Payments total $5,500.
The amount of $5,500 comes in two checks, as there is $4,200 for the permanent fund dividend and $1,300 as a way to help residents cope with rising inflation along with rising energy bills.
In April, $2,600 was green-lighted by the House, although this is less than the $3,850 approved by Alaska Governor Mike Dunlavy.
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The dividend was established in 1980 and provides money from the state to the population when oil makes a profit for the state.
Residents receive this money each year and it acts as a type of universal basic income. For example, in 2021, 1,114 dollars were given to the population within the framework of this scheme.
However, as a result of Russia's invasion of Ukraine and the subsequent freezing of Russian assets by many countries around the world, the price of oil has risen sharply. Moreover, the rise in inflation caused by the COVID-19 pandemic did nothing to stabilize the situation.
Once this is done, you will be able to receive a payment from the Permanent Fund Dividend if you have lived in Alaska for one year.
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If you go to jail or are convicted of a crime, you will become ineligible and therefore unable to receive these benefits.
If an individual qualifies for both payment amounts offered, they could be in line to receive a total of $5,500.
The budget is still being worked on, but if an agreement cannot be reached between the House and Senate, a special session will be held.
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