Gov. Gordon Releases New Budget to Reduce Future Cuts
Governor Mark Gordon has recently released a balanced budget for the next two fiscal years. In the budget proposal, the Governor calls for saving excess revenues to guard against future revenue challenges.
He also notes that future revenues are forecast to decline because Wyoming’s leading industries continue to be targeted by the Biden Administration.
Governor Gordon wrote in his budget message, “While Wyoming’s revenue picture has improved since early last year, I believe we must be mindful about how we deploy the serendipitous, additional funds forecast for the coming biennium...Today’s good fortune is a reprieve, not a solution to our revenue stability.”
Gordon's proposal allows for some savings while also maintaining funding for education and not enacting any further cuts.
The Governor pointed out that Wyoming saw its highest inflation rate in more than a decade in the second quarter of 2021.
Gordon wrote, “High inflation robs us of our economic gains; it impacts the budgets of families, businesses, and state government. We are seeing bids for construction projects come in well overestimated and the cost of utilities is climbing. An approaching winter could exacerbate this situation, forcing the state to spend more just to keep the lights on in our schools, diesel in our snowplows, and heat on at the State Hospital.
The Governor also noted that inflation is impacting the workforce.
The Governor is scheduled to appear before the Joint Appropriations Committee at 8 am on December 1st.