As they await an updated report on Wyoming’s revenue forecast, Republican legislative leaders are becoming more concerned about a downturn in energy prices. During a news conference following the governor’s state of the state message, Senate President Phil Nicholas says it’s time for the state to prepare for a long term reduction in mineral money. Oil and other commodity prices have fallen and Nicholas doubts those prices will rebound anytime soon.
“So this is going to be the first time in a while where we see a decline in revenue that is pretty sharp. But we don’t see a rebound or a bounce up that will exceed prior collections. So it’s time now to begin to look at a long term vision.”
Nicholas says he and Speaker of the House Kermit Brown will ask for a study on state revenue and its spent. Senate Minority Leader Chris Rothfuss says the revenue picture is NOT dire, and urged lawmakers to continuing spending money on things that will enhance Wyoming’s economy.