Wisconsin budget gets $753 million boost in tax collections
MADISON — The Wisconsin state budget will have $753 million more than originally expected, thanks largely to a one-time spike in tax collections due to federal tax law changes.
The money now becomes available for the Legislature as it’s working on the two-year spending plan. But Republican leaders don’t appear to be on the same page Wednesday, May 15 about what to do.
Republican Assembly Speaker Robin Vos says the money should go to tax cuts, reserves and paying down debt. Vos says, “Now is not the time to go on a spending spree.”
Senate Majority Leader Scott Fitzgerald says it would be appropriate to spend some of the money on capital building projects and roads.
Budget committee co-chair Rep. John Nygren says he wants to put most of the money into savings ahead of a likely recession.