Alaska governor limits oil checks to $1,000

    Gov. Bill Walker announced Wednesday that Alaskans will receive the limited checks this year after he cut $665 million appropriated by lawmakers.

    ANCHORAGE, Alaska (AP) — The Alaska governor has cut funding in half for oil checks given to every resident but kept enough money in place so everyone will still get a $1,000 payout amid the budget deficit.

    Gov. Bill Walker announced Wednesday that Alaskans will receive the limited checks this year after he cut $665 million appropriated by lawmakers. He had said all options were on the table when it came to the $1.4 billion oil check fund appropriation.

    Alaska's government relies mostly on revenue from oil production to stay solvent. But declining production and a precipitous drop in oil prices have plagued the state, leaving it with a deficit of more than $3 billion for the next budget year.

    Last year, Alaskans received a record $2,072 check.

    Walker told reporters that the program will disappear if changes aren't made and urged lawmakers to find a solution during a special session starting July 11.

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