Johnson Touts Benefits of Dividends to Local Economies and Vows to Protect PFD

Anchorage, Alaska – House Rules Chairman Craig Johnson Thursday praised the Alaska Permanent Fund managers and touted the “significant” economic benefits PFD checks have on Alaska’s economy. “I think the Permanent Fund board and its managers are doing a fantastic job and I want to thank them,” said Johnson, R-Anchorage. “I know I speak for all Alaskans in praising their prudent investment decisions that have led to the fund growing to $54 billion – creating annual dividends that are a big boost to Alaska’s economy.”

This is “Dividend Day,” Johnson said, “and today each Alaskan and each Alaskan family benefits directly from Alaska’s great resource wealth.” Johnson noted that while others have described the PFD as a “giveaway,” he sees the role of PFD checks differently. “Alaska is an owner state, and the dividend represents each Alaskan’s personal stake in the management of our resource wealth. “Johnson said the PFD creates an “ownership” interest that helps connect Alaskans to the Permanent Fund and keeps politicians from raiding it. “Like shareholders in a corporation, Alaskans through the dividend have a stake in what happens to the Permanent Fund.” As a result, Johnson said, politicians are very reluctant to tamper with it. “Anyone thinking about raiding the Permanent Fund knows they’ll have to answer to Alaskans.”

Johnson added that the PFD has become a major economic driver for local economies. “All you have to do is look around,” Johnson said. “Stores and restaurants are crowded, people are shopping, fixing their homes, and paying for their children’s education. The economic impact and rollover benefit to our economy and for small businesses is tremendous.”