Falling oil prices hurt Alaska's projected revenue

Plus: New proposal for Anchorage homeless shelter site quickly turns into a political fight Email not displaying correctly? [View the web version]( [Anchorage Daily News]( Today's sponsor: [Today's sponsor: Matson]( Support independent reporting on what Alaskans care about most. [Subscribe today.]( Good afternoon. It’s Wednesday, March 22. In today's newsletter: - Falling oil prices are projected to leave Alaska’s state budget with a $925 million revenue hit, pushing lawmakers to reduce the size of this year’s proposed Permanent Fund dividend. - A new prospect for a homeless shelter in Anchorage has become the latest flashpoint in municipal disagreements on how to move forward with short-term shelter. - The Alaska House speaker has called for the Legislature to reject the state salary commission’s recommendations that would grant raises for lawmakers, the governor and his cabinet. Anchorage's regular municipal election is less than two weeks away, and more than half the seats on the city Assembly are up for grabs. To find out who's running in your district, and to learn where the candidates stand on issues that matter to you, use this [candidate comparison tool](. The questions we asked were developed with input from Anchorage voters. 🌤️ Anchorage weather It's partly cloudy today with a high of 38 degrees, and rain is likely to fall this evening. That rain is forecast to change to snow overnight, and there's a chance of snow for the rest of the week. Daytime temperatures will remain in the mid-30s. Here’s what else is making headlines in Alaska today. — Megan Pacer, mpacer@adn.com [Falling oil prices leave Alaska lawmakers with a $925 million revenue hit, affecting budget and PFD]( [Falling oil prices leave Alaska lawmakers with a $925 million revenue hit, affecting budget and PFD]( While the governor favors a $3,700 dividend, the Alaska House majority has signaled its support for a $2,700 dividend. The Senate majority has started discussing a more modest $1,300 dividend over the long-term, which would allow the state to also pay for greater school funding without drawing down the state’s sole remaining savings account. [Read More]( [New proposal for Anchorage homeless shelter site quickly turns into a political fight and stalls]( [New proposal for Anchorage homeless shelter site quickly turns into a political fight and stalls]( A new proposal for a homeless shelter in Anchorage, the Arctic Rec Center in Midtown, was barely formulated before getting mired in a political skirmish, leaving the location in limbo. [Read More]( [Alaska House leader calls for a vote to reject legislator pay increases]( [Alaska House leader calls for a vote to reject legislator pay increases]( Alaska House Speaker Cathy Tilton's request came after the independent commission responsible for recommending salary changes for legislators and state executives last week abruptly amended its original recommendations to include a steep $34,000 pay raise for lawmakers. [Read More]( ADVERTISEMENT [A ballot proposition aims to put Anchorage marijuana tax revenue toward easing the city’s child care crisis]( [A ballot proposition aims to put Anchorage marijuana tax revenue toward easing the city’s child care crisis]( Proposition 14 would take the city’s marijuana sales tax money and dedicate it toward funding reading programs, increasing funding, wages and staffing at child care and early education programs, and prioritizing using school district facilities for child care programs. [Read More]( [Peltola testifies on behalf of Oregon and Minnesota ranked choice voting initiatives]( [Peltola testifies on behalf of Oregon and Minnesota ranked choice voting initiatives]( U.S. Rep. Mary Peltola testified before the Minnesota and Oregon legislatures on bills that would expand ranked choice voting in those states, even as conservative Republicans have launched efforts to do away with Alaska’s new ranked choice voting system. [Read More]( ADVERTISEMENT More from the ADN [Anchorage School District hosts town halls on shifting school start times]( [Anchorage School District hosts town halls on shifting school start times]( [Read More]( [Federal Reserve raises key interest rate by quarter-point despite bank turmoil]( [Federal Reserve raises key interest rate by quarter-point despite bank turmoil]( [Read More]( [Cordova police apprehend man they say escaped from jail after attacking correctional officer]( [Cordova police apprehend man they say escaped from jail after attacking correctional officer]( [Read More]( [3A/4A state basketball: Anchorage Christian girls hope to avoid March Madness upset and Grace Christian boys aim to continue domination]( [3A/4A state basketball: Anchorage Christian girls hope to avoid March Madness upset and Grace Christian boys aim to continue domination]( [Read More]( [A 5,000-mile seaweed belt is headed toward Florida and Mexico]( [A 5,000-mile seaweed belt is headed toward Florida and Mexico]( [Read More]( [Get digital access to the ADN for as low as $1.99 for the first month]( and help us cover the news that matters most here in Alaska. 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