This post originally appeared at https://wifamilycouncil.org/radio/new-state-revenue-estimates/
This week the state’s Legislative Fiscal Bureau released new revenue estimates. The numbers reflect growth despite economic uncertainty. The Bureau projected the state will finish the 2023-2025 budget with a $4.3 billion surplus, while upping expectations for how much the state will collect in tax revenue over the next two years. This fall, the Evers administration projected the state would finish this budget with a four billion dollar surplus.
In one sense, these estimates mean recent budgets have been done responsibly since we now have this significant accumulated surplus. However, all this surplus is money the state has taken in taxes from Wisconsin citizens. It’s time to return it with responsible tax cuts and let families keep more of their hard-earned money—a move that will absolutely strengthen the state.
Julaine Appling