To Save or to Save More: Lawmakers Debate Permanent Account Amount
Cheyenne, WY – One of the big debates the state legislature will face in the final week of work is how much money it should save. Beyond that there is also a question of if it should put money into a permanent account, where future lawmakers can't touch it, but they can benefit from the interest that fund produces. Already over 300 million dollars a year goes into that permanent account. Several legislators are trying to put extra money in. One of them is Representative Colin Simpson from Cody. He says the interest revenue is a hedge against creating an income tax. The House is in favor of putting an extra 65 million dollars a year in the account. The Senate wants to hold off on putting the money into permanent savings, creating a divide within the Republican leadership.