Stimulus money puts a minor dent in state shortfall
Cheyenne, Wy – Wyoming continues to try and take advantage of federal stimulus money, but the Governor says that money will only go so far. Wyoming has applied for 330 million dollars from the federal program and has been approved for 242 million. Governor Dave Freudenthal says the extra money will only soften the financial blow the state is being hit with. He notes that last year the state had over 20 billion dollars in mineral revenue.
"We are looking at a tax base in 2009 that we will be lucky if it gets to 10. So we are looking at 50 percent drop in the available mineral tax base for Wyoming. Not only is it dramatic, it's incredibly serious, given the levels of funding. So this business of everybody tightening his belt is not hypothetical."
The Governor's office says that it appears that the state will be
eligible for 500 million dollars of the 787-billion dollar stimulus