Refund Excess Tax Revenues to Wyoming Residents

WHEREAS: The State of Wyoming had a reported surplus of $2 billion during the last budget cycle and the Consensus Review Estimating Group (CREG) estimates surplus revenue of $860 million through 2026.

WHEREAS: There are currently no unfunded items in the State budget and the State’s sovereign wealth fund is $27 billion with $1.5 billion added in 2022.

WHEREAS: In 2021 Wyoming had a surplus of $19,100 per state taxpayer and the current CREG report shows revenue to be $178 million above forecast with property taxes increasing by over $168 million.

WHEREAS: The State is collecting far more revenue from Wyoming residents than required to fund essential needs and additional wants.

BE IT RESOLVED: That the Sheridan County Republican Party calls upon the Wyoming State Legislature to reduce property tax, sales tax revenues, and licensing fees, commensurate to fund essential needs, and

BE IT ALSO RESOLVED: that the legislature remit to Wyoming residents the $168 million in excess revenues that have been collected thus far and any additional excess revenues through the end of the next fiscal cycle.

Passed:

Wyoming Republican Party, 4 Nov 2023 SCC