Tax Cut for Wyoming Uranium Meets Lawmaker Opposition
CASPER, Wyo. (AP) — Efforts by Wyoming’s uranium industry to get a tax break are getting a cool reception from members of a legislative committee.
Companies that operate in Wyoming had argued that reducing taxes would keep them afloat until prices rise.
Global competition has pressured some companies to cut staff and defer expansion plans.
However, members of the Joint Minerals Committee weren’t convinced a tax cut would benefit the state given the downturn in the state’s oil, gas and coal industries, all of which have higher tax burdens than uranium.
State Democratic Rep. James Byrd, of Cheyenne, says he feels if an exception was made for uranium, the other extraction industries would demand tax breaks too.
Wyoming employs about 300 people in the uranium industry.