by Rhonda McBride
Saturday, April 11, 2009
JUNEAU, Alaska -- The state Senate approved what it calls a bare-bones capital budget Saturday afternoon by a 16-3 vote.
The budget calls for about $1.8 billion in spending, most of which is federal money -- about $1.1 billion.
This year's capital budget was downsized considerably from last year's, which was about $3 billion.
Finance co-chair Bert Stedman says next year's capital budget could be even smaller -- about two-thirds of this year's spending plan -- if the price of oil stays in the $50 range.
The Senate Finance Committee cut about a half-billion dollars in spending requests from Gov. Sarah Palin.
She praised them for doing so on Friday and said the state needs to reign in deficit spending.
Contact Rhonda McBride at email@example.com