To the editor:
As an energy leader, Wyoming has led the way in energy production and new technologies, providing our state and country with the resources needed to power homes, industries, and innovations.
All of the above energy strategies ensure that we remain competitive as markets worldwide demand lower-emission products. Renewable energies also play a role in lowering costs for residential consumers and businesses throughout the Equality State. A strong mix of energy resources ensures that our state is never without energy to power our grid.
Saying ‘yes’ to our legacy industries of coal, oil, and natural gas and saying ‘yes’ to wind, solar, and nuclear are critical to the future of our state’s economy and keeping our state open for business.
We are not abandoning fossil fuels; we are saying ‘yes’ to all energy resources as the demand for all forms of electricity continues to grow. We are saying ‘yes’ to keeping Wyoming businesses competitive by helping to reduce energy costs. We are saying ‘yes’ to providing opportunities for future generations to live and work in Wyoming.
Wyoming has abundant resources from coal to wind and natural gas to solar. A strong mix of energy resources ensures that our state has the energy to power our grid and keep our economy strong. We are an energy leader in America, and our country thrives due to our role in energy production.
With rising energy costs, especially over the last year, why are some in our Legislature continuing to discuss the possibility of more taxes on energy through a Gross Receipts Tax on electricity?
Any tax on electricity hurts our ability to remain competitive with neighboring states whose energy production continues to increase yearly. Any tax on electricity hurts our Wyoming families, ranchers, industries and businesses who cannot afford additional increases to their utility bills.
This month, Wyoming’s Consensus Revenue Estimating Group (CREG) released its revised Fiscal Year 24-25 revenue estimates for our state. Under the “Sales and Use Tax” section, the CREG outlines “how year-to-date sales and use tax collections have been quite strong for the first six months of FY 2024.” The CREG says, “The robust pace is largely driven by the new wind power projects in Albany County… activities from wind farm construction and mineral exploration continue to boost tax collections in other related sectors such as transportation, construction, and business services.”
Wind energy is boosting tax collections and adding higher-paying jobs to Wyoming’s portfolio while providing a critical lifeline to ranchers and farmers. Ranchers have been able to bring the next generation back to Wyoming because of the diversified revenues from renewables, ensuring the next generation can continue this rich legacy and history.
All energy provides revenue and supports a variety of industries and small businesses. A strong Wyoming economy will continue to embrace all of the above energy and recognize how these industries have a ripple effect on our local and statewide economies.
Our families, industries and businesses cannot afford new taxes and additional costs on energy. Let’s keep Wyoming open for business, competitive with our neighboring states and support the people and businesses here who make our state thrive.
To learn more visit https://poweringupwyoming.org
Chris Brown, Executive Director
Powering Up Wyoming