Skip to comments.Now thatís better: WI ends fiscal year with $760 million surplus
Posted on 10/15/2013 9:53:31 AM PDT by afraidfortherepublic
MADISON Better than expected.
Thats been the story of state revenue and surplus in Wisconsin over the past year and a half.
An improving economy has pushed the states surplus up to $759.2 million, according to the Wisconsin Department of Administration State Controllers Offices Annual Fiscal Report released Monday. Thats up nearly $90 million from the last budget estimate earlier this year, and an increase of $274.5 million higher than the $484.7 million projected in the Legislative Fiscal Bureaus 2013 re-estimates in January.
Word of the better-than expected balance, which doesnt take into account the hundreds of millions of dollars in state structural debt, follows on the heels of last weeks announcement of a proposed $100 million property tax cut, pitched by Gov. Scott Walker and Republican legislative leaders.
The Legislature is scheduled to take up the bill on Tuesday and, thanks to the higher balance, the measure is expected to draw bipartisan support. The tax cut would shave about $13 off the median tax bill in Wisconsin.
When we took office two years ago, we said we would be good stewards of the taxpayers money, and this report shows were on the right track, Walker said in a statement.
What a difference a couple of years make. When Walker took office in early 2011, the state faced a $3.6 billion budget shortfall.
Democrats on Tuesday continued to blame Walker for the budget surplus, charging that the $759.2 million balance was the result of draconian cuts to the states public education budget. But Democratic leadership signaled they would probably support the property tax cut.
Walker said the Republicans tough, but prudent, decisions are paying off for Wisconsin families.
A bigger balance means $153.2 million more into the states rainy day fund, amounting to a total of $278.5 million in a reserve that was decimated during the Great Recession years.
Our latest deposit of $153 million into the states rainy day fund is the largest in state history, and the $278 million balance of the fund is also the largest ever, Walker noted.
Wisconsin deposits largest sum in State history into rainy day fund!
FReep Mail me if you want on, or off, this Wisconsin interest list.
Shocking! Lower taxes, less regulation and less unions actually results in increased revenue? Who knew?
do they have any debt to pay off?
WALKER FOR PREZ
“Democrats on Tuesday continued to blame Walker for the budget surplus,”
It’s good when someone in the media uses their linguistic prerogative in a conservative’s favor.
Nicely done, Mr. Walker... Nicely done!
Blame? Walker won't be governor forever. Some liberal will come in to spend that money and then some. However, this is a good example of what good leadership can do.
Wow a surplus in spite of the cost of the recall fiasco.
I fault this article for not pointing out the the state’s rainy day fund was decimated by Doyle and his minions — not the recession. True, the recession had a lot to do with lower revenue, but Doyle’s high spending depleted the fund. He used up the gas tax money, and he confiscated the physicians’ mal practice fund, as well.
BUT WHAT ABOUT THE POOR UNION TEACHERS WHO HAVE TO EAT OUT OF DUMPSTERS?!?!
Taking my $13 refund and buying ammo. :)
I’d been hearing this weird sound all week; sort of like bubble wrap popping?
Turns out it’s Liberal heads exploding all over Wisconsin!
Knock me over with a feather! The progressive Cap Times is reporting on this and they’re just stating the FACTS. Amazing!
That's all Wisconsin voters need to know to make an informed decision next election.
Scott Walker for President!
not to mention the poor children having to eat Elmers glue for lunch and make their own paper.
Yes we do. They start coming due over the coming years from the Doyle administration
Well, who’da thunk? De-fang the public sector unionsand... badda boom, badda bing — surplus!!
I love it when the leftards are ... once again ... proven WRONG!
Works for me!
I'd support him in a heartbeat... but I suspect he likes his life... not sure why he'd want to eff it all up by running for President.
No doubt the unions believe that surplus belongs to them!