deficit

State of Wyoming Legislature

An omnibus education bill passed the Wyoming House Tuesday and moved to the Senate for review.

The bill is the House of Representatives' answer to the $400 million education budget deficit. The bill proposes freezing transportation and special education funding for the 2018-2019 fiscal year to generate some savings.

Remaining gaps in funding would be covered by legislative reserves. And should the state’s rainy day account dip below $500 million, the state sales tax and the state use tax would increase a half penny.

Senator Simpson Speaks Out On Deficit

Nov 29, 2012

Former U-S Senator Alan Simpson is in Washington D-C speaking to members of Congress about his concerns surrounding the deficit. 

He told Congressional leaders that America cannot go off the fiscal cliff.

“Well it will be a disaster because the markets will then respond and those are the people that loaned us the money and they will say we can see you are dysfunctional you’ve proven that you couldn’t do a lick to sustain the solvency of the Social Security System.”