Saving Surplus May Be Appealing
Cheyenne, WY – A co-chairman of Wyoming's Consensus Revenue Estimating Group says there is a lot to be said for having the state put a lot of its' surplus into a savings account. But Steve Sommers says how that is done will be the major policy question facing the legislature. House Republicans say putting a lot of the billion-dollar surplus into the Permanent Mineral TRust Fund is a good idea because it builds up a major interest-bearing account while the state has the money to enhance the fund. But Sommers says the downside is that it locks up those funds so legislators may not be able to tap into it to fund other needs if the economy goes sour. He says having a savings account is a good idea since the gas boom is doing better than the overall economy. He says if gas prices decline, Wyoming's current income stream will drop off.