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Some Americans may qualify for a $1,300 boost to help with energy costs – see if your state has a cash handout

SOME residents could see a check for $1,300 in their future if state legislators can propose a new energy-rebate bill.

The Alaska House of Representatives is expected to propose a one-time $1,300 energy rebate for all residents as oil prices soar.

An energy discount bill could bring Alaskans an extra $1,300

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An energy discount bill could bring Alaskans an extra $1,300Credit: Alamy

The operating budget will be released to the House Finance Committee on Thursday.

According to Representative Bryce Edgmon, $900 million in funding for the rebate will come from the state general fund.

The fund is expected to get a big boost from oil prices above $100 per barrel.

Part of the reason for the proposed payments is due to the economic costs of the Covid-19 pandemic.

Edgmon said fuel costs could double for rural Alaskans before the end of 2022, which is another reason for the payment.

Then-Governor Sarah Palin successfully proposed a $1,200 energy rebate to help residents with soaring fuel costs in 2008.

The bipartisan House Majority Coalition said the 2022 energy bailout check would not be included in this year’s Permanent Fund dividend, which remains undecided as the budget passes through the Legislature.

In 2021, the split check is a little over $1,100, but Edgmon said the House majority is committed to not overdrafting the Fund permanently beyond the sustainable amount.

Governor Mike Dunleavy urged lawmakers to pass his 50-50 dividend, which would give eligible Alaskans 2,500 checks.

The governor spent two years of legislation requiring financial assistance for residents who have struggled during the pandemic.

Sen. Bert Stedman, who manages the operating budget in the Senate, has long opposed overdrafting the Permanent Fund to pay for large dividend payouts.

Stedman said he is concerned about the long-term viability of the fund. On Wednesday, he raised concerns about rising energy costs due to high oil prices and the war in Ukraine.

“I like the concept, no doubt about it,” he said of the proposed energy reduction test.

However, Stedman said that lawmakers will need to merge operating and capital budgets before he can commit to the examination.

He added that he would still like to see new streams of Alaska’s oil revenues put into the state’s savings accounts as they have dried up after a decade of deficit spending.

Many Alaskans have faced financial struggles due to the Covid-19 pandemic

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Many Alaskans have faced financial struggles due to the Covid-19 pandemicCredit: Getty

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https://www.the-sun.com/money/4810594/alaska-energy-rebate-oil-price-rising/ Some Americans may qualify for a $1,300 boost to help with energy costs – see if your state has a cash handout

Caroline Bleakley

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