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Tue January 22, 2013
Legislative panel rejects Mead's fiscal proposals
The legislative panel responsible for drafting a supplemental Wyoming state budget bill recommends that lawmakers reject Gov. Matt Mead's proposal to cut the flow of energy revenues going into permanent savings and school construction.
Mead wants Wyoming to build up its so-called rainy day fund in case the state needs ready cash to deal with projected flat energy revenues in the years to come.
The Legislature's Joint Appropriations Committee has voted to reject Mead's proposals to reduce the flow of energy revenues into permanent savings. The committee also rejected Mead's proposals to cut the amount of federal coal lease bonus money going into school construction.
Some committee members say Wyoming's financial condition isn't dire enough to justify reducing the state's saving rate. The full Legislature will consider the committee recommendations.