Local News

1-22-16 revenue projections

todayJanuary 22, 2016

MADISON, Wis. (AP) — New projections show Wisconsin will finish the 2015-17 budget with less money than expected.  The Legislative Fiscal Bureau released forecasts Thursday showing the state will finish the biennium $70.2 million in the black. That’s down dramatically from previous projections that showed the state would finish with $164.5 million.  The fiscal bureau said the reduction results from a decrease of nearly $160 million in estimated tax collection and a $29.5 million decrease in lapses to the general fund.  Fiscal Bureau Director Bob Lang said the projections don’t include the $6 million cost of a bill Gov. Scott Walker is expected to sign overhauling the state’s civil service system. After the governor signs the measure, the balance will shrink to about $64 million.

Written by: Radio Plus

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