Since last year, the state of Alaska has implemented the Permanent Fund Dividends (PFD) program, which provides direct payments to eligible residents. These payments can reach up to $3,284.00 USD, with $662.00 USD specifically allocated for energy relief and not subject to taxes. The remaining amount is considered taxable income.
The first round of payments was distributed in September 2022, and the majority of eligible individuals have already received their funds.
However, some residents of Alaska who were initially listed as “eligible not paid” on June 7 will receive their $3,284.00 USD during the current week.
How are these payments distributed?
The state government decided to distribute the profits from oil and gas revenue among Alaskans. Governor Mike Dunleavy stated that this economic benefit will assist with expenses such as fuel, food, medical bills, car repairs, and rent.
Interested individuals had to submit an application, either on paper or electronically. This payment amount represents the largest distribution in the history of Alaska.
The high inflation in the United States has had adverse effects on its residents. Therefore, it is crucial that these types of payments reach as many people as possible.
According to local government data, a total of 644,000 individuals in North America have received this financial relief.
In addition, the Federal Reserve has implemented strategies to mitigate inflation in the United States, considering the current complex scenario.