MADISON, Wis. (WRN) — Despite a slight decrease in the projected surplus, Wisconsin’s fiscal footing appears sound
The Legislative Fiscal Bureau projects the state will end the 2023-25 biennium with a more than $3.1 billion surplus. That’s down slightly from the $3.25 billion from January revenue estimates. Fiscal Bureau Director Bob Lang told WisPolitics the numbers are “tracking well” compared to the agency’s estimate and that LFB is “comfortable on where they are.”
State tax collections through the month of April are up 0.9% over the year before, slightly ahead of the 0.4% growth that Fiscal Bureau had projected for the current year. The latest Department of Revenue numbers show income and sales tax collections are up compared to the same period a year earlier, accounting for $13.1 billion of the $16 billion the state took in between July 1 and April 30.