Governor Mark Gordon continues to caution that Wyoming’s revenue picture remains deeply concerning after the release of the Consensus Revenue Estimating Group report.
The October CREG forecast, released today, shows a shortfall of $451.1 million in the state General Fund and a school funding shortfall of over $300 million. In an historic downturn in Wyoming’s economy, the state’s revenue collections have experienced a significant decline.
“I have a fundamental belief that we must live within our means,” Governor Gordon told the Joint Appropriations Committee. “Wyoming suffered its greatest budget shortfall in history this year, just six years after her previous record in 2016. By any stretch of the imagination this crisis is unique, but it is real, and we must be prepared.”
Gordon implemented an initial round of 10% cuts in parts of the budget and has asked agencies to consider further cuts approaching 10% and more.
“I am not interested in building a budget that just tries to get us to next year,” the Governor continued. “Wyoming, if she wants to remain competitive and productive, must live within her means and structure herself for economic opportunity.”
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