Wisconsin faces possible $281 million budget shortfall
MADISON (AP) — Wisconsin tax collections are more than $281 million short of estimates, a drop that could require the Legislature to take action to keep the budget in balance.
The state Department of Revenue on Thursday released the figures for the fiscal year that ended in June. Those figures show the state collected $281.2 million less than was anticipated by the nonpartisan Legislative Fiscal Bureau in January.
That is nearly 2 percent less than anticipated.
Gov. Scott Walker’s office had no immediate comment.
The Revenue Department says that the figures are preliminary and won’t be finalized until mid-October. It also notes that additional changes are possible due to outstanding expenses and revenue collections.