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Nearly every Alaskan gets a $1,312 oil check this fall. The unique benefit is a blessing and a curse
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A furniture store in Anchorage, Alaska, advertises PFD sales Oct. 4, 2023, as the state plans to begin distributing $1,312 checks to nearly every Alaskan this week. The PFD, or the Permanent Fund dividend, is the annual share of the earnings from the state's nest-egg oil-wealth fund given to residents. - photo by AP Photo/Mark Thiessen
JUNEAU, Alaska (AP) — Nearly every Alaskan will receive a $1,312 check starting this week, their annual share from the earnings of the state’s nest-egg oil fund. Some use the money for extras like tropical vacations but others -- particularly in high-cost rural Alaska where jobs and housing are limited – rely on it for home heating fuel or snow machines that are critical for transportation. But the unique-to-Alaska benefit has become a blessing and a curse in a state that for decades has ridden the boom-bust cycle of oil, and it now competes for funding with services like public education, health care programs and public safety as lawmakers tap into the earnings to help fund the state budget.