New revenue estimates showed Wyoming’s budget recovering lost ground from the pandemic. However, its growth is still slower than most other states.
Federal dollars have bailed Wyoming out of its biggest budget issues, for now.
Wyoming will face “a lot of new realities,” even after the pandemic ebbs, Gov. Mark Gordon said Wednesday. Among those are drastically reduced state budgets.
An internal memo to the Legislature from its fiscal analysts anticipates $555 million to $2.8 billion in lost revenues from COVID-19 and an oil price war. “Armageddon,” in the words of one lawmaker.
A recent report on Wyoming revenue projections is being characterized as a major shortfall, but money still flows into savings accounts.