Issue Position: Jobs and the Economy
Issue Position
I believe we must work diligently to allow for greater diversification of Wyoming's economy. This doesn't mean government should pick the winners and losers in order to accomplish the goal of diversification. Rather, it means creating a favorable climate for new and divers businesses to form and grow. Often this requires eliminating unnecessary or restrictive government regulations prohibiting growth. It also means maintaining a favorable tax climate (0% capital gains and 0% income tax for example). We just have to get out of the way and let the entrepreneurs do what they do best.
In the 2017 Budget Session, I was one of the primary advocates and sponsors of Wyoming's Blockchain legislation. The successful passage of this legislation marks a defining moment in Wyoming history. This legislation immediately shot Wyoming to the number one position as the most Blockchain friendly community in the world. This is also a major step forward in truly diversifying Wyoming's economy as we supplement our industries with technology based companies. To that end, I sponsored a budget amendment creating and establishing a Blockchain Task Force, which I am a member of. The purpose of the task force is to continue to move this opportunity for more growth in Wyoming forward.
During the 2017 Budget Session I also wrote and sponsored HB126, an act allowing for Series Limited Liability Companies in Wyoming. Allowing for the organization of this unique business entity in Wyoming puts the Cowboy State once again on the map as the king of LLCs. Wyoming will once again become the go-to state for creating new and innovative LLCs.
Another major step forward for diversification is the Wyoming Invests Now Exemption Amendments (HB144). This bill put Wyoming on the forefront of the amount a venture can raise via private crowdfunding and by doing so incentivizes companies to utilize crowdfunding as a path to raise money in an impactful way. These amendments promote greater business activity, while limiting government intervention. These changes strike the right balance between protecting Wyoming residents in the risks of early stage investing while providing them a wonderful opportunity to realize a meaningful return down the road.
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