Wyoming

With austerity measures already in place and energy revenues showing little sign of rebounding, Wyoming's government is pushing to diversify the state's economy sooner rather than later.

State and local governments and showing a wide variety of impacts from the collapse of the oil market that began two years ago, ratings analysts say.

Wyoming Gov. Matt Mead is asking state agencies to look for more ways to save money, citing a budget shortfall that could be more than $500 million.

Far West issuers sold $83.6 billion of municipal bonds in 2015, a 26.5% increase over the prior year, as refundings continued to drive volume.

The Wyoming Senate rejected a measure that would have expanded Medicaid in the state, a step Gov. Matt Mead had urged support of and that he said would have brought more federal money to Wyoming.

State governors and other public officials who warned that new Environmental Protection Agency regulations could cause significant economic harm to their states and localities are hailing the Supreme Court’s decision to place a stay on the EPA’s plan.

Wyoming's outlook was cut to negative from stable by Standard & Poor's as the highly-rated state struggles with budgetary pressure.

Facing a fiscal year 2016 shortfall of about $159 million, Wyoming Gov. Matt Mead has proposed slashing expenses and borrowing from the state's rainy day account to offset a sharp fall in energy industry revenues.

The Casper, Wyo. City Council last week approved plans for an $8.5 million redevelopment of the city's downtown.

The Wyoming Department of Transportation says it needs an additional $62 million per year to maintain its roads and bridges, even as a recent report concludes that the state faces a sharp drop in revenue due to a weak oil and gas market.