Wyoming Liberty Group
After months of review and mammoth change, the Wyoming legislature sent Governor Mead’s budget back to him for his signature. When the governor sent it back – signed – it had more line item vetoes than ever before.
Sultan of the Taj Mahal Reigned In
The Taj Mahal was lavishly constructed as a mausoleum to bury the favorite wife of a Sultan.
In a similarly excessive approach, some senators with a “spare no expense” mindset are working to return the Wyoming Capitol to its former historic glory. Undeterred by the fiscal crisis, one senate visionary advocated adding a $3 million center for tourists at the Capitol. With the Capitol budget on the brink of the $300 million line in the sand set by Governor Mead, this senate visionary sought to bury this $3 million cost overrun in another budget.
Certain very powerful senators tried to bury the cost overruns of their favorite boondoggle, the Wyoming Capitol building. Fortunately for Wyoming taxpayers, they have been reigned in.
The Wyoming budget was broken up into a number of parts. In addition to the general appropriations bill we also had the State Capital Construction Bill and the Local Government aid bills. None of these other bills have gone to the governor yet.
How has the entire budget changed as it moved through the budget session and how has that effected the rainy day fund raid and the need to steal from future generations?
Or how to raid the rainy day fund and manipulate revenue forecasts all in one. Although on the surface, the purpose of SF 68 is to direct the governor and legislature on how to address budget shortfalls, it does much more. It creates the one percent severance tax account, gives the governor a tool to raid the rainy day fund, and changes who picks the members of the CREG.
Everybody wants the one percent
Did you know the State of Wyoming has more than one fund with handy cash ready for the taking? While most people think of the Legislative Stabilization Reserve Account (LSRA) as the rainy day fund, the state has hundreds of spend-ready funds. One of those, the Strategic Investment and Project Account (SIPA), could act as the source of funds for some of the capital construction projects legislators still want to fund, even as state revenue plummets.