Wyoming Revenue Numbers Better But Not Great
Wyoming's revenue picture looks better than it did in May, but a top state budget analyst told the legislature's Joint Appropriations Committee that it's still not good.
The Consensus Revenue Estimating Group (CREG) said revenues for the current budget are short by about $450 million or around half of what was projected in May. CREG Co-Chairman Don Richards said while the outlook is better than they thought, it's still a concern.
"The downturn in Wyoming's economy and associated revenue collections are historic, especially by the top two industries in Wyoming: mining and tourism," said Richards.
Gov. Mark Gordon told the committee that Wyoming doesn't have large pockets of money to pay for the shortfall. He said if they continue to cut critical services, it will hurt the state.
Members of the legislature's Appropriations Committee promised to work with the governor to find ways to sustain revenue for necessary services.