Wisconsin is projected to see a budget surplus of roughly $4.3 billion, according to Wisconsin Public Radio. The news comes as Gov. Tony Evers finishes drafting his next state budget proposal, which calls for investments in education, child care, and more.
An analysis by the nonpartisan Wisconsin Legislative Fiscal Bureau puts state tax revenues at almost $895 million higher than expected over the next two-year budget cycle. The report cites faster-than-anticipated growth in the national economy in 2024 and modest increases in state sales tax revenue behind the finding.
Two years ago, Evers and lawmakers started the budget cycle with a projected $7 billion surplus and, after passing a new budget with more spending and some tax cuts, ended last year with $4.6 billion in the state’s general fund and $1.9 billion in Wisconsin’s rainy day fund.
