What's the Money For

What's the money for? That's the question Governor Jay Hammond asked when he created the Permanent Fund. His answer: the money belongs to Alaskans, and Alaskans should benefit directly. The dividend was just the beginning. Hammond envisioned a fund that would do more-that would help Alaskans build lives and futures here. Forty years later, that vision remains incomplete. Today, young Alaskans can't afford to stay. At 6.5% interest, a $350,000 home costs nearly $800,000 over thirty years-and most of that money leaves the state, flowing to Wall Street investors who've never set foot in Alaska. There's another way. A small allocation from the Permanent Fund-just 10%-could provide 2% mortgages to 23,000 Alaska families. The savings: more than $330,000 per family over the life of a loan. The interest doesn't disappear; it returns to the Fund. Alaska's wealth stays in Alaska, building Alaska families, in Alaska communities. This book lays out exactly how it would work-the mechanics, the math, the politics, and the path to passage. It's a blueprint for completing what Hammond started. What's the money for? It's for Alaskans. It always was.