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LCCC Study Says Wyoming Could Afford Higher Taxes

LCCC Study Says Wyoming Could Afford Higher Taxes A Laramie County Community College study presented to a Wyoming Legislative Committee last week says the state could afford higher taxes without damaging the state economy. It was presented to the legislature s Joint Revenue Committee on Monday. it comes as the state faces long-term budget challenges that include a roughly $300 million per year shortfall in school funding. While federal COVID-19 stimulus money will more or less bail out the state, for now, it s not a long-term solution. The study said Wyoming could increase state revenues by about $800 million per year without hurting the state s economy. It says that the easiest path for doing so without creating a state income tax (which is highly controversial in Wyoming) would be to increase sales taxes.

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