Governor Gordon Proposes Tax Relief to Seniors and People With Fixed Incomes
Governor Gordon recently shared his budget proposal with the Legislature's Joint Appropriations Committee (JAC).
That's according to a press release from the Governor's office, which wrote that Gordon's budget proposal would emphasize addressing inflationary pressures facing the people of Wyoming, saving money for future generations, and utilizing strategic investments moving forward.
The release noted that Gordon's Administration added more details to the budget proposal this week, and they were presented to the JAC in 21 supplemental budget letters.
One proposal of note the Governor made was to offer property tax relief for Wyoming residents who he believes were most impacted by inflation - seniors and those living with fixed incomes.
"Many Wyoming low-to-moderate income households struggle to meet the increased burden of rising property taxes, especially those on fixed incomes," Governor Gordon stated. "As established by the legislature, the Wyoming Property Tax Refund program is designed to help provide relief to our citizens most impacted by the regressive economic effects of inflation. The Property Tax Relief program offers a hand-up for our seniors and low-income households struggling to make ends meet right now."
The release noted that the Department of Revenue saw a record number of 2021 property tax refund applications, with close to two-thirds of the biennium budget expended in the first year. Because of this, Governor Gordon's proposed budget requested an additional one million dollars to continue assisting qualifying Wyoming households throughout the next year.
Additionally, Governor Gordon addressed Wyoming's energy industry, with the release going so far as to call it the 'linchpin of Governor Gordon's supplemental budget proposal.
"Wyoming has long been recognized as an energy leader, and we have an opportunity to be an advanced energy fountainhead through the 21st century," stated Governor Gordon. My goal is to leverage these funds to the greatest extent possible to benefit Wyoming's energy industry. This fund shows Wyoming's commitment to be available for the millions of dollars of federal funding from the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act for C02 capture, hydrogen hub and rare earth pilot and demonstration projects."