Facing a multibillion-dollar deficit, Alaska's governor on Wednesday cut in half the annual checks that give all residents a share of the state's oil wealth, but he kept enough money in place to award everyone a $1,000 payout.
Gov. Bill Walker's administration said the checks had to be reduced in order to save the program. The veto "preserves that ability to provide a check to every citizen in this state forever," his budget director, Pat Pitney, said.
