Wisconsin budget forecast improves by $2.9 billion
MADISON, Wis. (AP) — Wisconsin’s budget picture improved by nearly $2.9 billion with a revised forecast released Tuesday.
The increase was driven by higher-than-expected tax collections that will force the Republican-controlled Legislature to decide whether to spend the surplus, save it or put it toward tax cuts.
The Republican leader of the Senate said Tuesday that the money would go toward tax cuts in the next budget to be written in 2023.
Gov. Tony Evers, who signed two Republican-authored budgets into law that cut taxes, said he was proud of his administration’s efforts to keep more money in Wisconsinites’ pockets.
“These unprecedented revenue projections are great news for our state on top of reaching record-low unemployment and having the fewest number of people unemployed in our state’s history,” said Gov. Evers. “At the end of the day, I know folks and families are facing rising costs at the checkout line and businesses are facing challenges getting resources and supplies. Wisconsinites need help making ends meet and can’t wait until the next biennial budget—they need relief now.”
He is up for reelection in November. Whoever wins that election will be proposing the next budget for the Legislature to consider.
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