Parnell has proposed an overhaul to the state's oil tax structure as a way to encourage new production.
Sen. Pete Kelly, R-Fairbanks, and Meyer's co-chair on finance, said lawmakers will have to spend money on issues, like helping to solve energy concerns for Fairbanks and rural Alaska, "regardless of our situation right now." He said that will probably mean dipping into savings at some point.
Kelly said he is grateful for the work that has been done to build up Alaska's savings accounts. He said he thinks there is an early consensus that a budget crisis is coming and said lawmakers want to be smart about their spending decisions now.
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