On July 31, 1986, Gov. Bill Sheffield edited the new budget plan and said that the final draft for the budget would be announced the following day. In preparation, the Alaska Housing Finance Corp. tried to devise a plan that would allow those unable to meet their mortgage plan because of substantial pay cuts to refinance their payment at a 9 percent interest rate. AHFC was trying to decide what factors would contribute to qualify for the program.
With so much talk about the budget, the Associated Press published an article wherein almost all of the 1986 Alaska gubernatorial election candidates stated that the Permanent Fund Dividend program should not be taken away, even with Alaska’s lack of revenue. Only one candidate disagreed, saying that the money should be used to fund education.
Many of the Republican candidates were pushing the U.S. Senate to delay new amendments in the Alaska Native Claims Settlement Act. The amendments, already passed by the House, had already went through an extensive number of hearings, according to Alaska Federation of Natives’ spokeswoman Margaret Nelson. The candidates believed that the amendments should continue to be examined by the public at least until the next year.
“This Day in Juneau History” is compiled by Empire intern Tasha Elizarde, who sums up the day’s events — 30 years ago — by perusing Empire archives.