Wyoming Taxpayers Association Hires New Executive Director

For Immediate Release
Wednesday, February 1, 2006 Press Contact: Kristin Span 307-635-8761

CHEYENNE – The Wyoming Taxpayers Association announced today the hiring of a new executive director. Erin Taylor, a University of Wyoming graduate with a Master’s degree in Economics, was hired to replace Randy Bolles as the association’s director.

“I’m excited about this opportunity,” said Erin Taylor. “The Wyoming Taxpayers Association has been a respected and influential advocacy organization for decades and I am delighted to be representing them,” she stated.

Taylor, formerly a Government Affairs Representative with PacifiCorp, has an extensive background in electric industry policy with employment in the Rocky Mountain states as well as Washington D.C. She assumed her new position the first of the year.

“We are very fortunate to have someone of Erin’s ability and experience,” stated Bob Tarantola, President of the Board of Directors for the Wyoming Taxpayers Association. “Her enthusiasm and knowledge of relevant issues will ensure WTA’s legacy of prudence with regard to governmental spending.”

The Wyoming Taxpayers Association was founded in 1937 and promotes efficiency and economy in government as well as providing independent and unbiased analysis on public expenditures and taxation policies. For more information call 307-635-8761, stop by our office at 2410 Pioneer Ave. Cheyenne, WY, or visit us on the web at www.wyotax.org

Wyoming’s Three-Legged Stool

Legislators from across the country would do cartwheels to have Wyoming’s estimated $2 billion in excess revenues. If we gave them magic wands, they would send themselves to Cheyenne in a heartbeat. Some would spend, enhancing state infrastructure and building communities. Some would save for future generations. Our legislators have an important job ahead of them. We are blessed with such a large pot of revenues because the current price and production environment of our natural resources is so favorable. The Wyoming Taxpayers Association encourages the Wyoming Legislature to sensibly distribute this surplus and employ fair and equitable tax treatment for Wyoming citizens.

As we enter the legislative budget session, it is important to remember that we as Wyoming citizens enjoy one of the lowest tax burdens in the country. We benefit from relatively low property taxes, sales and fuel taxes, and do not pay a state income tax. Our mineral resources provide approximately two thirds of the state’s property tax revenues and approximately sixty percent of the state’s total revenues.

One question that emerges as we head into the budget session is how much will get invested into the Permanent Mineral Trust Fund (PMTF)? Responsible spending should go hand-in-hand with responsible saving. WTA supports this investment and would like to see the legislators designate at least 25 percent of the surplus into the PMTF and another 25 percent into another account such as the Legislative Stabilization Reserve Account. WTA also recommends that the legislature study the benefits of statutorily depositing another .5 percent of the severance tax in addition to the constitutionally required 1.5 percent to the PMTF. Saving surplus money can only help to offset revenue needs in the future when mineral prices may decrease and tax revenues decline, and when additional operating and capital requirements become necessary. Such an idea is similar to investing in a 401K or an IRA.

Economists have a concept called the “the three legged stool” of taxation. It maintains that a state’s tax structure has the best chance of being equitable, stable and balanced if it taxes the three legs of the stool: assets, consumption, and income. Because Wyoming citizens are not taxed on the income leg of the stool, some have said that Wyoming’s tax structure is in danger of not supporting our economy in the future. WTA has some ideas that might help the state stay balanced on the legs of the stool that are currently holding us upright.

• Wyoming should continue participating in streamlining sales tax provisions among the states.
• The legislature should maintain a policy of fair and equitable tax treatment and avoid tax increases during times of plenty.
• The state should invest a portion of the surplus in one-time needs such as infrastructure projects, yet should beware of recurring expenses such as operations and maintenance.
• Legislators should avoid ongoing budget commitments by carefully examining needs for additional government personnel.
• The state should avoid creating trust funds for select programs and projects that limit the options of future state elected officials and legislatures.

WTA wishes the Wyoming Legislators a responsible wave of the magic wand as they manage this envious task of distributing the surplus. I wonder what the average Wyomingite would do if we let him or her wave a magic wand?

Erin Taylor
Executive Director
Wyoming Taxpayers Association