A recent report from the Wisconsin Department of Administration (DOA) indicates that the state is projected to end the fiscal year with a surplus of nearly $4 billion, excluding the $1.9 billion in the “rainy day” fund. This surplus has sparked debate between Republicans, who aim to return the money to taxpayers, and Democrats, who advocate for investing in public education and local resources.
According to the report, higher-than-expected revenue collections have contributed to the surplus, with Democrats arguing that the funds should have already been allocated to benefit Wisconsinites. State Sen. Kelda Roys emphasized the need to invest in public schools, higher education, and local governments.
On the other hand, Republicans, led by State Rep. Mark Born, expressed concerns about potential deficits if the surplus is not returned to taxpayers. They fear that Gov. Evers’ proposed spending on new programs could lead to a deficit by 2027.
Gov. Evers highlighted the need for fiscal prudence while making strategic investments in neglected areas, emphasizing the importance of maintaining economic momentum in Wisconsin.
As the state prepares for the upcoming budget cycle, there are differing opinions on how to allocate the surplus funds, with both parties advocating for their priorities. The final decision on the surplus allocation will likely be made early next year after Gov. Evers delivers his budget address to state lawmakers in February.
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