State government won't have as much money as expected, to fund the current two-year budget. Governor Jim Doyle warned in his State of the State address Wednesday that the Wisconsin faces a serious fiscal challenge, and new numbers confirm that.
The latest revenue projections fall 300-to 400-million dollars short, according to the Legislative Fiscal Bureau . Fiscal Bureau Director Bob Lang says he'll put out some revised numbers next month, to include the final sales numbers from the Christmas shopping season. But that may not help the tax-collection picture much, since December tax numbers were not especially strong.
The news drew a quick response from Republican legislative leaders. Assembly Speaker Mike Huebsch said it's critical that lawmakers and Governor Jim Doyle move quickly and in a bipartisan manner to jump-start the state's economy. Huebsch sais the state can not tax its way out of a recession. And Majority Leader Jeff Fitzgerald said members of his party stand ready to solve the problem by working with Democrats to reduce government spending.