© 2024 Public Radio East
Public Radio For Eastern North Carolina 89.3 WTEB New Bern 88.5 WZNB New Bern 91.5 WBJD Atlantic Beach 90.3 WKNS Kinston 88.5 WHYC Swan Quarter 89.9 W210CF Greenville
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Natural Resource Dependent, Wyoming's Budget Suffers During COVID-19

This page is part of an NPR nationwide analysisof states' revenue and budgets during the pandemic.

Wyoming is looking at a loss of more than $1 billion in revenue due to the downturn in the energy industry related to COVID-19.

The state gets more than than 60% of its revenue from taxes related to oil, natural gas, coal and more. Oil in particular saw prices plummet this spring, which led Wyoming's Republican Gov. Mark Gordon to cut nearly $250 million, or 10%, of its biennial budget in July — with more cuts on the way. The governor is also looking at K-12 education as well as state employee layoffs and furloughs.

Wyoming does have over $1 billion in reserves, but Gov. Gordon is concerned about spending too much out of that account early. The state is also a low tax state and lawmakers are reluctant to raise taxes until all other avenues are considered.

The governor has proposed getting rid of a range of sales tax exemptions and re-instating a food tax to help make up the shortfall. He says it will take a combination of cuts, revenue options reserves to get through the crisis.

Bob Beck is the news director at Wyoming Public Radio.


Copyright 2020 Wyoming Public Radio