Governor Matt Mead said Friday that the revenue forecast by the State’s Consensus Revenue Estimating Group (CREG) is concerning. The forecast shows a drop in revenue to Wyoming from natural gas, resulting in less money available for the next two years. The previous report from CREG, in October, showed revenue slowing but that slowing was further into the future.
In December, Governor Mead proposed cutting ongoing spending from $2.76 billion to $2.74 billion. Based on current projections, Governor Mead said more cuts might be necessary and he will work with the Legislature and the Joint Appropriations Committee on the matter.
Governor Mead did reinforce his support for funding highways and local governments. He said maintaining and building strong infrastructure is necessary for commerce and economic growth.