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Wyoming lawmakers seek to cut spending and shift taxes, citing record earnings and a top credit rating.
Wyoming lawmakers from the Freedom Caucus are pushing to cut state spending to pre-COVID levels and reduce taxes, citing record $1.86 billion in investment earnings that now exceed mineral revenue.
They propose shifting from property to consumption taxes, aiming to return surplus funds to residents and counties while preserving essential services.
The state’s credit rating was upgraded to AA+, reflecting strong fiscal management.
However, some officials warn that deep cuts could harm public services, and the proposed tax shift raises concerns about fairness to low-income residents.
The budget proposal, expected in December, will face legislative review starting in January.
Los legisladores de Wyoming buscan reducir el gasto y cambiar los impuestos, citando ganancias récord y una alta calificación crediticia.