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Wisconsin Gets Bad News on Both Taxes and Spending
By Wisconsin School Administrators Alliance staff | July 1, 2014
Long-time respected budget and policy analyst Jon Peacock of the Wisconsin Budget Project explores the implications of what appears to be a gradually deteriorating fiscal situation in Wisconsin.
In his conclusion Peacock says, “Taken together, the latest revenue and spending developments raise serious questions about the wisdom of committing so much of the projected state surplus for another round of tax cuts, before the projected revenue increase actually materialized. To maximize the size of the newest round of tax cuts, lawmakers suspended the portion of the statutes requiring half of the revenue increases to be deposited in the Rainy Day Fund. It’s beginning to look like the result will be a significant increase in the structural deficit, and perhaps more immediate budget problems in fiscal year 2014-15.”
See the rest of the article here.
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