Governor Mark Gordon says his supplemental budget proposal provides a thoughtful approach to addressing inflation, visionary investments, and saving for the future. The proposal released Friday is an ongoing commitment to a Wyoming that, he says, lives within its means while advancing a balanced, sustainable budget that can meet its future needs with declining revenues.
“Wyoming’s people, like other Americans, are feeling the hurt of inflation. But unlike much of the rest of the nation, Wyoming’s economy has responded surprisingly well because of our fiscal conservatism,” said Gordon. “Tax revenues have diversified – in fact, our diversification index is the highest it’s been in 40 years according to economic analysis – that makes the tasks in this supplemental budget complex. But in all of this, we must also remember that our fiscal responsibility requires that we set aside some of this surplus in savings.”
The Governor’s said his proposal addresses inflation on multiple fronts, including property tax relief, capital construction projects previously authorized by the legislature, an external cost adjustment for education services, healthcare, and employee compensation.
“We must respond to inflationary costs of construction, bring our employee compensation closer to market, set ourselves up to power the nation toward energy independence and address the rising costs of homeownership for our most vulnerable citizens,” the Governor added.
The Governor has also recommended allocating money addressing mental and behavioral health service gaps, hardening cyber infrastructure, enhancing security at state prisons, and protecting natural resource industries.
“Now is the time to demonstrate innovation and entrepreneurship, respect for private initiative and property, and community-mindedness that all power the American Dream. The sun is shining, and the fields are ready–we need to make some hay,” Gordon said in his budget message, which can be read here. The Wyoming Sense website has been updated to reflect the Governor’s supplemental budget proposal.
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