The first batch of $3,200 direct payments will go out to eligible Alaska residents in two weeks.
Earlier this year, the Alaska legislature approved a budget that includes payments of $3,200 to eligible residents by the end of the year. The first round of direct payments is set to start hitting bank accounts on Sept. 20, according to Alaska’s Department of Revenue. Paper checks will then be sent out in early October.
The Alaska state Senate greenlighted a $5,500 payout, but that measure failed in the state House, according to Alaska Public Media.
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Negotiators between the two chambers sought $3,850 as a compromise, but that got shot down during negotiations, resulting in the $3,200 figure.
Proponents of higher payments pointed to inflation, surging energy costs, and other woes eating away at the wallets of everyday Alaskans as justification for a bigger payment.
The funding derives from the Permanent Fund dividend, and the $3,200 figure marks one of the largest payments in state history, according to the report.
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Gov. Mike Dunleavy made the proposed law in June as part of the state’s budget, which was among the largest in its history.
“This budget is more than a spending plan; it’s a blueprint for Alaska’s future. Budgets should reflect the values and ambitions of the people they are designed for, and I believe this legislation accomplishes that,” Dunleavy said.
