Wisconsin Budget Surplus At $6.9 Billion

Wisconsin’s budget forecast dipped slightly Monday, but the latest projection still calls for the state to collect about $6.9 billion more than anticipated by the end of June. The projection from the nonpartisan Legislative Fiscal Bureau estimates that taxes collected over the next two years will be down about $755 million, or about 1% less than the previous forecast made four months ago. Taking into account other short-term cost savings, the surplus shrank from $7.1 billion to nearly $6.9 billion. The new projection comes as lawmakers, Gov. Tony Evers and others are trying to strike a deal on a new, multibillion-dollar aid plan for local governments ahead of a vote Wednesday in the state Assembly. The Republican co-chairs of the Legislature’s budget-writing Joint Finance Committee, Senator Howard Marklein of Dodgeville and Senator Mark Born of Beaver Dam, say the latest downward estimate confirms that the Legislature is on the right track in creating a cautious budget.