Senate majority unveils spending limit, Permanent Fund draw

Sen. Lyman Hoffman, D-Bethel, at a Senate Majority press availability on Feb. 24, 2017. (Photo by Skip Gray/360 North)The Senate majority unveiled its plan to limit state spending and draw money from Permanent Fund earnings to pay for the state budget Friday.
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Senate President Pete Kelly, R-Fairbanks, said the plan in Senate Bill 70 will prevent spending from getting out of control.
“We’re going to initiate a spending limit, so that once we get the budget down, then it