Posted Wednesday, January 22, 2014 --- 2:15 p.m.
MADISON, Wis. (AP) -- Republican Senate Majority Leader Scott Fitzgerald says the growth in a projected budget shortfall caused by Gov. Scott Walker's proposed tax cut plan is "definitely a concern."
But Fitzgerald said Wednesday that Republicans are looking at whether the growth in the projected shortfall in 2015 would be erased by increased tax collections. Fitzgerald says it would only take revenue growth of 1.5 percent to erase the projected shortfall.
Net tax collections are projected to increase by 2.2 percent by July and another 4.3 percent by mid-2015.
Walker's proposal to cut income and property taxes by $504 million is the centerpiece of his State of the State speech Wednesday night. His plan would increase the projected shortfall of $725 million by another $100 million.
Copyright 2014 The Associated Press.
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