Alva Review-Courier -

Alaska lawmakers vote to cut oil, gas drilling subsidies


JUNEAU, Alaska (AP) — Alaska legislators have voted to cut oil and gas drilling subsidies from the budget.

The Juneau Empire reports ( ) the compromised proposal was approved late Saturday in an 18-0 vote in the Senate and a 33-6 vote in the House. Officials say the move will save the state nearly $200 million per year within three years.

Gov. Bill Walker said in a statement that the approval is a "meaningful step to shore up our financial situation."

The state has a deficit of over $2 billion per year while its Constitutional Budget Reserve will have only $2 billion...

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