This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Wyoming Senate Passes Fuel Tax Hike

By BEN NEARY

CHEYENNE, Wyo. (AP) â¿¿ A proposal to raise Wyoming state fuel taxes by a dime a gallon cleared its final vote in the state Senate on Thursday. It now heads to Gov. Matt Mead, who has said he favors a tax hike.

The Senate passed the bill by a vote of 18-12. The measure would raise the tax from the existing rate of 14 cents a gallon up to 24 cents for gasoline and diesel.

The tax hike would raise about $70 million a year, of which roughly two-thirds would go to the Wyoming Department of Transportation and one-third to local governments.

A coalition including contractors and the Wyoming Taxpayers Association has lobbied for the bill, saying the Transportation Department needs a steady source of state funding to allow it to plan projects more efficiently.

But Thursday's vote came over the objections of a few senators who said working people can't afford a tax hike. They suggested the transportation agency could meet its obligations without more revenue if it operated more efficiently.

Sen. Charles Scott, R-Casper, said he heard heavy opposition to the prospect of raising the fuel tax when he went door-to-door in his re-election campaign last fall. He said many people believe the Department of Transportation is inefficient.

"They were saying, 'We just can't afford any more taxes. We do not want more taxes,'" Scott said. "That's perfectly reasonable. That's why this is a representative democracy, so that we can reflect the views of the people on the government taking their money involuntarily for taxes."

Sen. Curt Meier, R-LaGrange, said raising the tax would increase the cost on everything that's delivered over roadways in the state.

"Federal taxes are going up. There's no doubt about that," Meier said. "Wages are stagnant. People are losing their purchasing power. The price of gas is going up with or without taxes."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs