Washington
DC Office
307 Dirksen Senate
Office Building
Washington, D.C. 20510
Phone: 202-224-6441
Fax: 202-224-1724
Wyoming Office
P.O. Box 22201
Casper, WY 82602
307-261-6413
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Contact: Cameron Hardy
202-224-6441 |
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Thomas: Wyoming’s Personal Income Up 2.1%
Senator says personal income growth shows strength of state economy |
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September 26th, 2006 - WASHINGTON – U.S. Senator Craig Thomas is lauding Wyoming’s strong economy in light of today’s news that Wyoming’s personal income growth is up 2.1 percent, the third highest in the country for the second quarter, according to the Bureau of Economic Analysis (BEA).
“Wyoming’s economy is strong and our state’s personal income growth certainly brings that point home,” Thomas said. “Our state’s energy economy remains one of the most resilient in the nation – and it’s only getting stronger.”
“States without an income tax perform much better than states with an income tax -- showing how important it is to let folks hold onto more of their own money.”
Out of the top four states in the BEA ranking, none have an income tax.
The BEA ranked only Texas (2.1%) and Nevada (2.3%) higher in personal income growth for the quarter. All data is available on the BEA web site at http://www.bea.gov
The BEA said that in states with the fastest earnings growth, the largest contributors were typically goods producing industries like mining in Wyoming and Texas, and construction in Florida, Arizona, and Utah.
The importance of mining, including oil and gas extraction, to second-quarter growth was quite extensive, according to BEA, as that industry continues to be one of the largest contributors.
In several states including Wyoming, either mining or other durable goods production, provided more than one-third of total earnings growth.
Thomas is a senior member of the Senate Finance Committee, which has sole jurisdiction over tax legislation.
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current Press Release |
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