Rejecting state income tax lets Wyoming’s wealthiest residents off the hook at expense of most vulnerable citizens, Drake writes.
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.
The state’s dependence on fossil fuel revenues makes lawmakers and other officials bend to industry wills at the expense of our landscape, wildlife, clean air and water.
Longtime senator Ray Peterson lost his primary reelection bid last week in a coup by educators, leaving the revenue committee without veteran leadership at a critical point
Under Wyoming’s current tax structure, growing the state’s non-resource based industries would cost the state money, economists say.