Wyoming Liberty Group
A group called RestoringFreedom.Org has proposed an Amendment to the U.S. Constitution aimed at curbing or eliminating growth in the federal fiscal debt. The group’s intentions are good, but there are important reasons why a Constitutional Amendment is the wrong way to go. Existing debt-capping laws have been ineffective since 1917 and nothing is done to change debt-causing economic mechanisms.
The Consensus Revenue Estimating Group, CREG, of the Wyoming State Legislature has upgraded its forecast of state revenues. Compared to January 2010 the October CREG report suggests that revenues during the Fiscal Year (FY) 2011-12 Biennium will be 4.9 percent higher than predicted in January.
November’s elections results will undoubtedly affect federal tax policy with a direct impact on Wyoming businesses.