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Now thatís better: WI ends fiscal year with $760 million surplus
The Wisconsin Reporter ^ | 10-15-13 | M. D. Kittle

Posted on 10/15/2013 9:53:31 AM PDT by afraidfortherepublic

MADISON – Better than expected.

That’s been the story of state revenue and surplus in Wisconsin over the past year and a half.

An improving economy has pushed the state’s surplus up to $759.2 million, according to the Wisconsin Department of Administration State Controller’s Office’s Annual Fiscal Report released Monday. That’s 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 Bureau’s 2013 re-estimates in January.

Word of the better-than expected balance, which doesn’t take into account the hundreds of millions of dollars in state structural debt, follows on the heels of last week’s 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 we’re 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 state’s 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 state’s 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 state’s rainy day fund is the largest in state history, and the $278 million balance of the fund is also the largest ever,” Walker noted.


TOPICS: Business/Economy; Government; News/Current Events; US: Wisconsin
KEYWORDS: refund; surplus; taxes; walker; wisconsinshowdown
In light of this good news, the Governor should return $200 million to the taxpayers!
1 posted on 10/15/2013 9:53:31 AM PDT by afraidfortherepublic
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To: afraidfortherepublic

Wisconsin deposits largest sum in State history into rainy day fund!

FReep Mail me if you want on, or off, this Wisconsin interest list.


2 posted on 10/15/2013 9:54:50 AM PDT by afraidfortherepublic
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To: afraidfortherepublic

Shocking! Lower taxes, less regulation and less unions actually results in increased revenue? Who knew?


3 posted on 10/15/2013 9:55:59 AM PDT by neodad (USS Vincennes (CG-49) Freedom's Fortress)
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To: afraidfortherepublic

do they have any debt to pay off?


4 posted on 10/15/2013 9:56:08 AM PDT by Mr. K (Lies, Damned Lies, Statistics, and then Democrat Talking Points.)
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To: afraidfortherepublic

WALKER FOR PREZ


5 posted on 10/15/2013 9:57:45 AM PDT by Mr. K (Lies, Damned Lies, Statistics, and then Democrat Talking Points.)
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To: afraidfortherepublic

“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.


6 posted on 10/15/2013 9:59:27 AM PDT by demshateGod (The fool hath said in his heart, There is no God.)
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To: afraidfortherepublic

Nicely done, Mr. Walker... Nicely done!


7 posted on 10/15/2013 9:59:36 AM PDT by NEMDF
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To: afraidfortherepublic
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 state’s public education budget.

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.

8 posted on 10/15/2013 10:00:34 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: afraidfortherepublic

Wow a surplus in spite of the cost of the recall fiasco.


9 posted on 10/15/2013 10:06:47 AM PDT by pfflier
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To: Moonman62

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.


10 posted on 10/15/2013 10:08:14 AM PDT by afraidfortherepublic
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To: afraidfortherepublic

BUT WHAT ABOUT THE POOR UNION TEACHERS WHO HAVE TO EAT OUT OF DUMPSTERS?!?!


11 posted on 10/15/2013 10:10:52 AM PDT by kevkrom (It's not "immigration reform", it's an "amnesty bill". Take back the language!)
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To: afraidfortherepublic

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!


12 posted on 10/15/2013 10:13:35 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: afraidfortherepublic

Knock me over with a feather! The progressive Cap Times is reporting on this and they’re just stating the FACTS. Amazing!

http://host.madison.com/ct/news/local/morning-briefing-scott-walker-says-state-surplus-million-more-than/article_89e3d5ea-358f-11e3-87c3-0019bb2963f4.html


13 posted on 10/15/2013 10:17:08 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: afraidfortherepublic
Democrats on Tuesday continued to blame Walker for the budget surplus...

That's all Wisconsin voters need to know to make an informed decision next election.

14 posted on 10/15/2013 10:19:59 AM PDT by kidd (No blood for ego)
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To: afraidfortherepublic

Scott Walker for President!


15 posted on 10/15/2013 10:34:48 AM PDT by DonkeyBonker (Hard to paddle against the flow of sewage coming out of the White House.)
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To: afraidfortherepublic


But the sign told me he was th'a Hitlur!!
16 posted on 10/15/2013 10:39:00 AM PDT by VanDeKoik
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To: kevkrom

not to mention the poor children having to eat Elmers glue for lunch and make their own paper.


17 posted on 10/15/2013 10:43:12 AM PDT by TurboZamboni (Marx smelled bad & lived with his parents most his life.)
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To: Mr. K

Yes we do. They start coming due over the coming years from the Doyle administration


18 posted on 10/15/2013 10:49:10 AM PDT by MNlurker
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To: afraidfortherepublic

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!


19 posted on 10/15/2013 11:15:10 AM PDT by ScottinVA (Obama is so far in over his head, even his ears are beneath the water level.)
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To: Mr. K

Works for me!


20 posted on 10/15/2013 11:15:31 AM PDT by MattinNJ (It's over Johnny. The America you knew is gone. Denial serves no purpose.)
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To: DonkeyBonker
Scott Walker for President!

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.

21 posted on 10/15/2013 11:20:55 AM PDT by ScottinVA (Obama is so far in over his head, even his ears are beneath the water level.)
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To: afraidfortherepublic

No doubt the unions believe that surplus belongs to them!


22 posted on 10/15/2013 12:18:10 PM PDT by rawhide
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