Bryan Pedersen
Encyclopedia
Bryan K. Pedersen is a financial consultant with RBC Wealth Management in Cheyenne
, Wyoming
, who is a Republican
member of the Wyoming House of Representatives
. In 2010, he is a candidate for a second two-year term in District 7, He also served in District 9 from 2005-2006.
In the 2008 campaign, Pederson won the Republican nomination over Jeff Matthews, the health and safety director of the Red Cross of Wyoming. He then defeated the Democrat
Ken Tuma of Cheyenne in the general election
. In the 2004 campaign in District 9, Pedersen defeated the Democrat Ruth Bell.
on announcement of his re-election bid, Pedersen said that a potential drop in coal
leases and assessed property values pose problems for the 2013-2014 state budget. He also foresees lower natural-gas
prices and reduced federal grants from Washington, D.C.
, that could lead to a "pretty negative budget." If the grim scenario develops, Pedersen said that legislators must set firm spending priorities. The 2011-2012 budget was approved in 2010.
Pedersen serves on the House Appropriations Committee and the Select Committee on Capital Finance and Investment. He has worked on issues relating to the state retirement system, developmental disability, and community college
funding. Pedersen noted that $100 million to $130 million of the state's 2011-2012 budget came from one-time federal stimulus money. Of that amount, $35 million is allocated to Medicaid
. Legislators may use more than $100 million from the state's general fund or from its budget reserve for the 2013-2014 biennium budget, he explained.
During boom times, Wyoming state government receives more funds than is required for regular operations. The Permanent Wyoming Mineral Trust Fund and the Permanent Land Funds hold money from both severance tax
es on minerals and receipts from the sale and lease of state lands. In 2009, less than half of the total $5.8 billion in those funds was invested in stocks or hedge fund
s, a rate much less than in other states, including New Mexico
and Alaska
. Pedersen has urged the state to place as much as 80 percent of its permanent money into alternative investments. Similar strategies have led to much greater returns for endowments at major universities, including Yale
and Harvard
. "Now that our toes are wet, we need to jump in and embrace modern fiduciary practices. The state exists in perpetuity. We need to be capitalizing on investments that are in line with our time horizon," said Pedersen, who also serves on a Wyoming State Senate select committee on investment strategy.
Pedersen's colleague, State Representative Jack Landon, Jr., of Sheridan
, questions how the state will fund government if its coal, petroleum
, and natural gas
become depleted. "Once that coal or oil or gas has left, we’ll never see that again. What we’ve done is we’ve taken some of the family wealth of Wyoming [the two permanent funds], and we’ve tried to capture some of the value of those assets, not only for this generation, but for future generations."
at Laramie
. He is the son of Leonard S. and Sandra R. Pedersen of Cheyenne. He and his wife, Sara B. Pedersen, have two young sons, Brock and Dane. Pedersen is Lutheran and serves on the United Way board in Cheyenne.
Cheyenne, Wyoming
Cheyenne is the capital and most populous city of the U.S. state of Wyoming and the county seat of Laramie County. It is the principal city of the Cheyenne, Wyoming, Metropolitan Statistical Area which encompasses all of Laramie County. The population is 59,466 at the 2010 census. Cheyenne is the...
, Wyoming
Wyoming
Wyoming is a state in the mountain region of the Western United States. The western two thirds of the state is covered mostly with the mountain ranges and rangelands in the foothills of the Eastern Rocky Mountains, while the eastern third of the state is high elevation prairie known as the High...
, who is a Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
member of the Wyoming House of Representatives
Wyoming House of Representatives
The Wyoming House of Representatives is the lower house of the Wyoming State Legislature. There are 60 Representatives in the House, representing an equal amount of single-member constituent districts across the state, each with a population of at least 9,000. The House convenes at the Wyoming...
. In 2010, he is a candidate for a second two-year term in District 7, He also served in District 9 from 2005-2006.
In the 2008 campaign, Pederson won the Republican nomination over Jeff Matthews, the health and safety director of the Red Cross of Wyoming. He then defeated the Democrat
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
Ken Tuma of Cheyenne in the general election
General election
In a parliamentary political system, a general election is an election in which all or most members of a given political body are chosen. The term is usually used to refer to elections held for a nation's primary legislative body, as distinguished from by-elections and local elections.The term...
. In the 2004 campaign in District 9, Pedersen defeated the Democrat Ruth Bell.
State finances
In an interview with the Wyoming Tribune EagleWyoming Tribune Eagle
The Wyoming Tribune Eagle is a daily newspaper published in Cheyenne and distributed primarily in Laramie County, Wyoming. It is the state's second largest newspaper in terms of circulation, behind the Casper Star Tribune. The Tribune Eagle is also one of several newspapers serving the Front Range...
on announcement of his re-election bid, Pedersen said that a potential drop in coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
leases and assessed property values pose problems for the 2013-2014 state budget. He also foresees lower natural-gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
prices and reduced federal grants from Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, that could lead to a "pretty negative budget." If the grim scenario develops, Pedersen said that legislators must set firm spending priorities. The 2011-2012 budget was approved in 2010.
Pedersen serves on the House Appropriations Committee and the Select Committee on Capital Finance and Investment. He has worked on issues relating to the state retirement system, developmental disability, and community college
Community college
A community college is a type of educational institution. The term can have different meanings in different countries.-Australia:Community colleges carry on the tradition of adult education, which was established in Australia around mid 19th century when evening classes were held to help adults...
funding. Pedersen noted that $100 million to $130 million of the state's 2011-2012 budget came from one-time federal stimulus money. Of that amount, $35 million is allocated to Medicaid
Medicaid
Medicaid is the United States health program for certain people and families with low incomes and resources. It is a means-tested program that is jointly funded by the state and federal governments, and is managed by the states. People served by Medicaid are U.S. citizens or legal permanent...
. Legislators may use more than $100 million from the state's general fund or from its budget reserve for the 2013-2014 biennium budget, he explained.
During boom times, Wyoming state government receives more funds than is required for regular operations. The Permanent Wyoming Mineral Trust Fund and the Permanent Land Funds hold money from both severance tax
Severance tax
Severance taxes are incurred when non-renewable natural resources are separated from a taxing jurisdiction. Industries that typically incur such taxes are oil and gas, coal, mining, and timber industries....
es on minerals and receipts from the sale and lease of state lands. In 2009, less than half of the total $5.8 billion in those funds was invested in stocks or hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
s, a rate much less than in other states, including New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
and Alaska
Alaska
Alaska is the largest state in the United States by area. It is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait...
. Pedersen has urged the state to place as much as 80 percent of its permanent money into alternative investments. Similar strategies have led to much greater returns for endowments at major universities, including Yale
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
and Harvard
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
. "Now that our toes are wet, we need to jump in and embrace modern fiduciary practices. The state exists in perpetuity. We need to be capitalizing on investments that are in line with our time horizon," said Pedersen, who also serves on a Wyoming State Senate select committee on investment strategy.
Pedersen's colleague, State Representative Jack Landon, Jr., of Sheridan
Sheridan, Wyoming
Sheridan is a city in Sheridan County, Wyoming, United States. The 2010 census put the population at 17,444 and a Micropolitan Statistical Area of 29,116...
, questions how the state will fund government if its coal, petroleum
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
, and natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
become depleted. "Once that coal or oil or gas has left, we’ll never see that again. What we’ve done is we’ve taken some of the family wealth of Wyoming [the two permanent funds], and we’ve tried to capture some of the value of those assets, not only for this generation, but for future generations."
Background
Pedersen, a Cheyenne native, is a graduate of the University of WyomingUniversity of Wyoming
The University of Wyoming is a land-grant university located in Laramie, Wyoming, situated on Wyoming's high Laramie Plains, at an elevation of 7,200 feet , between the Laramie and Snowy Range mountains. It is known as UW to people close to the university...
at Laramie
Laramie, Wyoming
Laramie is a city in and the county seat of Albany County, Wyoming, United States. The population was 30,816 at the . Located on the Laramie River in southeastern Wyoming, the city is west of Cheyenne, at the junction of Interstate 80 and U.S. Route 287....
. He is the son of Leonard S. and Sandra R. Pedersen of Cheyenne. He and his wife, Sara B. Pedersen, have two young sons, Brock and Dane. Pedersen is Lutheran and serves on the United Way board in Cheyenne.