WKB calculations have revealed that tunneling dynamics of localized wa
ve packets in simple potential wells depend sensitively on the degree
of squeezing of the wave function. Squeezed states are shown to tunnel
more slowly in general than eigenstates of the well and states which
are initially localized near the bottom of a well have much lower tunn
eling rates than states localized at the sides of the well; The depend
ence of tunneling time on energy also exhibits steps related to quasi-
bound-state energies in a complex way. Additionally, modulations in th
e tunneling probability correlate with the motion of the squeezed wave
packet in the: well. These results have implications both for the dyn
amics of squeezed radiation fields and squeezed matter states, and exa
mples of applications to controlled vibrational-state chemistry, ultra
low-noise measurements of weak signals with Josephson junctions, and o
ptical crystals are discussed.