Wyoming’s leading Democrats expect a lot of discussion concerning falling oil prices in the upcoming legislative session. Those price drops negatively impact Wyoming’s revenue picture.
House Minority Leader Mary Throne says that while prices are down, the state does have a robust savings account. She says over the past several years lawmakers have overreacted to revenue swings.
“You know the sky is falling or that we have more money than we know what to do with and what we really need to do to put the state on a solid path going forward is develop a strategy to kind of even out those ups and downs and not overreact on the high end or low end.”
Laramie Senator Chris Rothfuss predicts it will come up when lawmakers consider Governor Matt Mead’s budget request. Mead is urging legislators to spend money on a number of construction projects from roads to buildings at the University of Wyoming. Mead contends that the legislative savings account can be used to invest in Wyoming. Rothfuss agrees, but says some of his colleagues will be more reluctant to spend.
“What that low oil price does is assures us that once again we will have that same conversation about being broke and squirrel away more funds. So it’s going to be an uphill battle to get money invested in the state in this session.”
The legislative session kicks off on Tuesday.