- Mar 30, 2013
- Reaction score
- The Land of Sanctuary
After Democrats tried to recall Wisconsin Governor Scott Walker a year and a half ago, he has gone on to rack up a $976 million surplus for his state. Many Democrats said the failure to recall him would be a "blemish" on the record, but as it turns out, his leadership has resulted in a boon for Wisconsinites. This won't be something the left will acknowledge, but a Republican Governor is showing Obama and the rest of America how it's done.
Wisconsin?s surplus tops $900 million - Beloit Daily News: NewsMADISON Wisconsins finances are more than $900 million stronger through mid-2015 than previously expected, the nonpartisan Legislative Fiscal Bureau reported Thursday.
The $911.9 million in additional revenue includes $893 million in higher-than-expected tax collections plus lower-than-expected department spending.
Gov. Scott Walker said in a statement that the additional revenue is a sign Wisconsins economy continues to grow and add jobs, and its more great news for the hardworking taxpayers.
The states improved financial picture lays the groundwork for Walker to announce next week a tax cut package that will include property and income tax
We made tough, but prudent, decisions over the last three years, and now our bold reforms are producing bold results for the people of Wisconsin, Walker said. The additional revenue should be returned to taxpayers because its their money, and my administration will work with the Legislature to determine the most prudent course of action.
Democrats called for Walker to direct the money toward education.
According to the fiscal bureau:
The state now has $976.6 million that it could tap for tax cuts in this biennium. That includes a previously anticipated balance of $129.7 million, minus $65 million that must be held in reserves.
If the state decides to spend the extra money, rather than reduce taxes, $443 million would automatically be deposited in the states rainy day fund.
If the state takes no action, its structural deficit the amount expenditures are projected to exceed revenues in 2015-17 would be erased and the state would be looking at a more than $1 billion projected structural surplus.
Walkers spokeswoman Jocelyn Webster said Wednesday the governor will lay out a detailed plan next week in his state of the state address for what to do with the surplus.