Kathianne
01-25-2013, 12:42 AM
http://host.madison.com/wsj/news/local/govt-and-politics/wisconsin-budget-surplus-projected-to-grow-to-million/article_ec6cc518-666a-11e2-ac09-0019bb2963f4.html
Wisconsin's budget picture brightened Thursday, with new estimates that show a surplus will grow to $484 million, giving Republicans and Gov. Scott Walker even more room to pursue their tax cutting agenda.
The estimate from the nonpartisan Legislative Fiscal Bureau was nearly $137 million better than one Walker's administration released in November. The numbers will be used by Walker as he puts the final touches on his two-year spending plan, which he's set to unveil on Feb. 20.
While the bottom line for the current fiscal year that ends June 30 showed improvement, the report projected that tax collections through June 30, 2015, will actually be $259 million less than what Walker's administration predicted. The bulk of that, $219 million, is due primarily to the fact that Walker assumed in November that Congress would restore the estate tax, the Fiscal Bureau said in its report. That did not happen as part of the deal to avert the so-called fiscal cliff.
Still, Walker and Republican legislative leaders touted the positive news in the report about the larger surplus for this fiscal year.
...
Wisconsin's budget picture brightened Thursday, with new estimates that show a surplus will grow to $484 million, giving Republicans and Gov. Scott Walker even more room to pursue their tax cutting agenda.
The estimate from the nonpartisan Legislative Fiscal Bureau was nearly $137 million better than one Walker's administration released in November. The numbers will be used by Walker as he puts the final touches on his two-year spending plan, which he's set to unveil on Feb. 20.
While the bottom line for the current fiscal year that ends June 30 showed improvement, the report projected that tax collections through June 30, 2015, will actually be $259 million less than what Walker's administration predicted. The bulk of that, $219 million, is due primarily to the fact that Walker assumed in November that Congress would restore the estate tax, the Fiscal Bureau said in its report. That did not happen as part of the deal to avert the so-called fiscal cliff.
Still, Walker and Republican legislative leaders touted the positive news in the report about the larger surplus for this fiscal year.
...