July 23, 2014

Report projects state budget surplus

New state revenue projections show Wisconsin’s budget outlook is improving. Updated figures released Thursday by the Legislative Fiscal Bureau predict Wisconsin will have a surplus of more than $484.7 million heading into the next state budget.

Governor Scott Walker called the surplus good news for Wisconsin taxpayers, which he says show Wisconsin is better off under the long-term structural reforms made over the last two years. Walker also indicated the surplus means he can move ahead with plans for an income tax cut targeting the middle class.

Senate Democratic Leader Chris Larson (D-Milwaukee) says the projections show the “devastating cuts to education, healthcare, local government from the last budget were unfair, unfounded, and, most importantly, unnecessary.”