Wyoming Taxpayers Association Meets

Fall convention season is in full swing in Wyoming. On Wednesday the Wyoming Taxpayers Association met and discussed Wyoming tax and investment policy. The Governor spoke at the luncheon highlighting the status of the state’s budget and the significant expenditure of funds to fight fires in the state. He stressed the importance of replenishing the Fire Suppression account in the supplemental budget. The account has been completely depleted due to the extensive fire season. The Governor will release his supplemental budget to the legislature on the third Monday of November.

Following the Governor, Patrick Fleming, Chief Investment Officer, Wyoming State Treasurer’s Office provided an overview of Wyoming’s investment accounts and the earnings derived from those investments, and he highlighted that thirty percent of the state’s budget is funded with investment income.

Representative Tom Walters and Senator Tara Nethercott, Co-Chairs of the Capitol Finance and Investment Committee, which was meeting concurrently at the Capitol, provided additional details on the state’s various accounts and the balances and importance of those accounts. Chairman Walters pointed out that the state’s Legislative Reserve Account, often referred to the rainy-day account, has reached over $1 billion. He stressed because of the leadership and foresight of prior legislatures to save and invest in the good years, creating accounts such as the Permanent Mineral Trust Fund and other trust accounts and investments, has allowed Wyoming to keep taxes low and adequately fund services.

GoWest Credit Union Association was recognized as a sponsor of the event.

Posted in Advocacy on the Move, Wyoming Advocacy.