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, and;
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, and;
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, and;
WHEREAS, the State is collecting far more revenue from Wyoming residents than required to fund essential needs and additional wants, and;
BE IT RESOLVED, that the Wyoming 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 FURTHER 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, 19 Apr 2024 WYGOP State Convention
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