Full Press Release
News from the Alaska State Legislature, the Office of Senator Cronk
For Immediate Release: May 05, 2026
Senate Unanimously Passes Capital Budget
Senator Mike Cronk
JUNEAU – Today in a unanimous vote, the Senate passed the Fiscal Year 2026 Capital Budget out of the body and to the House for consideration. It is the smallest FY26 Capital Budget since the Covid recession. It is a challenging year with many financial barriers, however, the Senate Republican Caucus successfully collaborated with the Majority, Governor’s Office, Office of Management and Budget, and the House to craft a FY26 Capital Budget that best reflects the needs of constituents.
According to Finance Committee member Senator Mike Cronk (R – Tok / Northway), “The Senate Finance Committee worked diligently to create a capital budget that provides for Alaska’s necessities and allows for flexibility to receive federal dollars, while also reflecting the current fiscal constraints our state is facing.” The legislature received $3.2 billion in requests from communities from across the state. All were denied by the Senate Finance Committee.
The Senate Finance Committee denied 16 projects from the executive branch, multiple projects were reduced in scope to create a total $10.4 million in cuts, and multiple reductions and eliminations were made to state departments.
The budget addressed requests for deferred maintenance in schools, matched federal dollars in order to maximize the state’s ongoing projects capacity, and dedicated funding to many essential services including energy development, public safety, judiciary, and infrastructure.
According to Senate Minority Leader Mike Shower (R – Wasilla) “With a budget already several hundred million in deficit and shrinking oil tax revenues, the Senate Republican Caucus appreciates the fair and balanced approach the Senate Finance Committee used to create the capital budget.” The Transportation Committee member continued, “It was refreshing to see old and stalled projects be scrubbed to reappropriate money into current projects. This was a necessary step considering the tight monetary situation Alaska faces.”
The Senate Republican Caucus has engaged in many productive and meaningful conversations with the Senate Majority concerning the state budget and priorities. We look forward to continuous collaboration and hard work on behalf of the People of Alaska.
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