skip to main content
skip to newscasts

Thursday, March 28, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Pulling back the curtains on wage-theft enforcement in MN; Trump's latest attack is on RFK, Jr; NM LGBTQ+ equality group endorses 2024 'Rock Star' candidates; Michigan's youth justice reforms: Expanded diversion, no fees.

view newscast page
play newscast audioPlay

Transportation Secretary Pete Buttigieg says rebuilding Baltimore's Key Bridge will be challenging and expensive. An Alabama Democrat flips a state legislature seat and former Connecticut senator Joe Lieberman dies at 82.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Lawmakers Facing $1.5 Billion Shortfall Seek Revenue Options

play audio
Play

Tuesday, September 15, 2020   

CHEYENNE, Wyo. -- As Wyoming lawmakers face a $1.5 billion budget shortfall, a new report by the Institute on Taxation and Economic Policy suggests it might be time for the state to consider implementing a reliable, renewable revenue stream: an individual income tax.

Meg Wiehe, deputy executive director with the institute, said adding an income tax to Wyoming's current mix of mineral, excise, property and sales taxes would put the state in a better fiscal position during downturns in the fossil-fuel sector.

"But it would also give state lawmakers a tool to tap to ask those richest households, who are weathering this crisis quite well, to chip in more, to allow the state to be able to continue to make much-needed investments during this time," Wiehe said.

Wyoming is one of just seven states that do not tax individual income. Opponents have argued a personal income tax could make retirees think twice before retiring in the Cowboy State, while others worry any tax increase could hurt the economy because people would have less money to spend.

Wiehe said without additional revenue streams, cuts in critical state and local investments, including health care and education, are likely to make the economic crisis brought on by COVID-19 worse and increase income inequality for years to come. She said with Congress stalled on providing additional aid to states and municipalities, the ability to tap Wyoming's wealthiest earners could save important programs, without putting additional stress on the economy.

"The truth is, the more income you have, the less you are actually likely to spend in the economy," she said. "You are more likely to put that money into saving or into investments, not into purchasing goods and services."

New Jersey Gov. Phil Murphy's recent budget plan calls for taxing millionaires; lawmakers in California, New York and Rhode Island also have proposed higher taxes on their wealthiest residents to help close pandemic-related budget shortfalls.


get more stories like this via email

more stories
A report from the Tennessee HealthCare Campaign recommended the federal government needs to strengthen 340B drug pricing and other federal negotiation mechanisms to make needed medicines more readily available and less expensive for hospitals to purchase and administer. (Spotmatikphoto/AdobeStock)

Health and Wellness

play sound

A recent report examined how some rural Tennessee hospitals have managed to stay afloat despite financial challenges. The report includes interviews …


Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…


Nearly 13 million Americans receive health coverage through unique plans under both Medicare and Medicaid. They are known as Dual-Eligible Special Needs Plans. (Adobe Stock)

Health and Wellness

play sound

Medicare and Medicaid are key sources of health coverage for many Americans and some people qualify for assistance under both programs. With lagging …

Social Issues

play sound

New research shows more than six in 10 abortions in the U.S. last year were medically induced, and U.S. Sen. Catherine Cortez Masto - D-NV - is …

Social Issues

play sound

Missouri lawmakers are concerned with protecting people from the potential risks of the increasing accessibility of AI-generated images and videos…

Social Issues

play sound

A 2023 study from the University of Nebraska Medical Center concluded the number of Nebraskans with a mental health or substance abuse disorder has pr…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021