House Bill 67 would broaden the tax base, better reflect today’s economic activity and move Wyoming toward tax equity
The Legislature is considering broadening the tax base, but drawing food into the revenue net would disproportionately hurt lower income residents.
Following months generating ideas to move the state’s income model past boom-and-bust vulnerability, the committee killed major tax reforms without votes.
Initially tasked with finding up to $300 million in new revenue, the group will begin its final meeting having proposed a fraction of that.
Wyoming can make some advances and improve its tax inequalities if it will seriously consider individual and corporate income taxes.