Wyoming Liberty Group
Maureen Bader and John Birbari from KVOW Riverton Radio talk about the revenue shortfall and what the Revenue Committee may do about it. If those who think a government bloated by a decade of mineral tax revenue windfall get their way, grab your wallet and run for the hills!
As minerals industry tax revenue plummets, politicans face a choice. Cut spending or raise taxes. What is Wyoming's Revenue Committee talking about - you guessed it - Tax Hikes! But shifting the burden of a bloated government to the people of Wyoming will only make matters worse. It is time to cut government spending back to a level remaining taxpayers are willing and able to fund.
- Replace Taxation Fixation with Bloat Elimination to Clear the Skies
Just when you think Wyoming's economic outlook can’t get any darker, it does. The Consensus Revenue Estimating Group (CREG) released its April 2016 update and sent a clear warning to policymakers. The report showed lower than expected revenue collections from most sources for fiscal year 2016, ending this June. The state is in trouble right now and the situation could be much worse in the 2017/18 biennium.
On Thursday April 28 the Bureau of Economic Analysis released its advance estimate of GDP growth for the first quarter of 2016:
Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 0.5 percent in the first quarter of 2016, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.4 percent.