Tapping Rainy Day Fund An Option

AP 8-20,2015

Citing falling oil and coal revenues, Gov. Matt Mead says it’s time to look at tapping into Wyoming’s rainy day fund.

The state has about $1.8 billion in the rainy day fund.

In addition, Mead says the state should revisit whether it should expand the federal Medicaid program in order to get federal funds.

Mead says he doesn’t believe the state needs to consider raising or imposing new taxes.

Wyoming gets significant revenue from mineral extraction. But state forecasters have projected federal mineral revenue will likely fall from just over $1 billion last year to about $688 million in 2020.

The governor is preparing a budget proposal that he will submit to the state Legislature, which convenes a budget session next February.

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