You are thinking short term by ending the PFD.  The dividend can still grow in the years ahead as the corpus grows. Your taxes do not if you are cautious and plan well.  If we end the fund the corpus is the NEXT target for discretionary future funding. That is not a good option.  Keep the dividend and it`s growth potential and it`s direct connection to state savings and spending habits.  It (dividend and state`s permanent fund investment success) keeps us connected.  It should continue to do that.. and eleven hundred bucks is better than a poke in the eye, some wise man once said..