News & Policies
|The President's Budget & Wyoming|
The Presidents Budget funds Americas priorities, provides the largest debt reduction in history and provides fair and responsible tax relief. In Wyoming, the budget:
Benefits an estimated 38,000 Wyoming small businesses and entrepreneurs by reducing marginal tax rates and making the Research & Development tax credit permanent.
Provides tax relief for roughly 176,000 Wyoming citizens who pay taxes.
Provides relief for an estimated 104,000 Wyoming married couples by reducing the Marriage Penalty.
Provides relief for an estimated 48,000 Wyoming families by doubling the Child Tax Credit.
Increases Wyoming's education funding over current levels to more than $109 million to give local schools more tools to ensure that no child is left behind.
Increases Wyomings Head Start funding over current levels to more than $10.5 million to better prepare Wyoming children for success in school.
Increases funding to more than $32.7 million in housing assistance and services for low-income Wyoming citizens.
Provides more than $1.3 million in funding for water resource projects along Wyomings rivers and waterways.
Provides more than $20 million to fund Wyoming environmental protection efforts.
Provides more than $5.6 million to help conserve Wyomings natural resources a 638% increase over current levels just for Wyoming.
Provides an estimated $ 197 million in highway funding for Wyoming.
Provides $391 million for programs and grants to help local fire departments and emergency services in Wyoming and all across America with training, equipment, and fire fighting and lifesaving efforts.
Provides a $5.6 billion National Emergency Reserve to aid Wyoming and other states struck by disasters.
Increases funding over current levels to more than $505,000 to help more Wyoming children awaiting adoption find loving homes faster.
The Presidents Budget Funds Important Priorities for Wyoming:
Improving Education. Provides the Education Department with the largest percentage spending increase of any federal department (11.5% or $4.6 billion) and triples funding for childrens reading programs.
Protecting Social Security. Locks away every penny of the $2.6 trillion Social Security surplus for Social Security.
Preserving Medicare. Spends every dime of Medicare receipts over the next 10 years only for Medicare, increases funding over the next year by $21 billion, and modernizes Medicare with an integrated prescription drug benefit.
Strengthening Defense. Improves quality of life of our troops and their families and begins the transition to a 21st century force.
Improving Healthcare. Doubles funding for NIH medical research on important health issues like cancer, the largest funding increase in NIH history. Creates more than 1,200 new community health centers nationwide to make health care more accessible.
Protecting the Environment. Fully funds the Land and Water Conservation Fund a $900 million commitment, with more than $5.6 million targeted for Wyomings conservation efforts; gives the EPA the second highest operating budget ever -- $3.7 billion, with more than $20 million targeted for Wyomings environmental efforts; and increases funding for the EPA $56 million above the amount requested by President Clinton.
Wyoming Will Benefit from the Presidents Historic Debt Reduction:
The Presidents Budget provides the fastest, largest debt reduction in history and reduces the debt to its lowest share of the economy since World War I, which will benefit Wyoming citizens in many important ways.
Fair and Responsible Tax Relief for all Wyoming Taxpayers:
Provides the typical family of four in Wyoming paying income taxes $1,600 in tax relief.
An estimated 176,000 Wyoming taxpayers stand to benefit by the new, lowered rate structure.
An estimated 38,000 Wyoming small businesses and entrepreneurs stand to benefit from the tax cut.
1 in 5 taxpaying families with children will no longer pay any income tax at all completely removing 6 million American families from the tax rolls.
A family of four in Wyoming making $35,000 a year will receive a 100% federal income tax cut.
A family of four in Wyoming making $50,000 a year will receive a 50% tax cut receiving at least $1,600.
A family of four in Wyoming making $75,000 a year will receive a 25% tax cut.
The marginal income tax rate on low-income families will fall by more than 40%.