House Approves Manufacturing Tax Break
Cheyenne, WY – Manufacturing machinery would be exempt from excise tases if a bill the Wyoming House has approved gets approval in the Senate. Supporters of House Bill 44 say it will help attract new companies to Wyoming and others may expand, which means more jobs. Representative Roy Cohee says little is known about economic development. Cohee says what is known is is what the state has been doing isn't working. He says Wyoming's entire economic development budget is smaller than that of Detroit, Michigan. Cohee says something bold need to happen and this tax break may be the answer. Estimates are the tax exemption will cost the state about two million dollars a year. Opponents of the bill say this is not the way to create jobs and it will distort the state's tax structure.