GILLETTE, Wyo. – A supplemental budget that places over $1 billion into savings has been signed by Wyoming Gov. Mark Gordon, his office announced Friday.
The budget will allow the state to keep taxes low and generate higher investment returns, both of which will benefit future generations, according to the Feb. 24 announcement.
“I congratulate the Legislature for its work on my budget recommendations,” Gordon said in a statement. “It is gratifying that the budget submitted to me is closely aligned with my original recommendations.”
The fiscal condition of the state remains strong, Gordon said, adding that the budget delivered to him for signing reflects an approach outlined by his previous suggestions calling for the state to set aside funds for leaner times while addressing inflationary pressures facing Wyoming citizens.
In a letter sent to Wyoming House Speaker Albert Somners (R-Pinedale), Gordon stated that the supplemental budget saves roughly $3.50 for every dollar of state revenue spent.
Additionally, the budget makes strategic investments in Wyoming, including additional funding for the Property Tax Refund, support for the state’s energy industries, and a market adjustment for state employees and teachers to offset the impacts of inflation, per the announcement.