Governor Dunleavy Signs FY2026 Budget: Vetoes Reflect Reduced Revenue Outlook
By Office of Governor Dunleavy on Comments Off on Governor Dunleavy Signs FY2026 Budget: Vetoes Reflect Reduced Revenue Outlook
Governor Mike Dunleavy signed the Fiscal Year 2026 budget for the State of Alaska on June 12, 2025. After vetoes, the state budget amounts to $14.7 billion.
The Spring Revenue Forecast projected $68 per barrel oil in FY2026. However, market dynamics have changed since March. The state has experienced lower oil prices, and oil price outlooks continue to fluctuate. In an updated revenue outlook, the Alaska Department of Revenue projects general fund revenue may be $222 million lower than was projected in the Spring Revenue Forecast.
Governor Dunleavy’s vetoes correspond to the reduced revenue outlook. The Governor’s vetoes total $122 million.
