Based upon our analysis, we project the closing, net general fund balance at the end of this biennium (June 30, 2023) to be $3,812.3 million. This is $2,881.7 million above the net balance that was projected at the time of enactment of the 2021-23 biennial budget, as modified to: (1) incorporate the 2020-21 ending balance (2021-22 opening balance) as shown in the Annual Fiscal Report; and (2) revise 2021-22 individual income tax revenues to reflect the Department of Revenue’s decision to adjust tax withholding tables effective January 1, 2022.
The $2,881.7 million is the net result of: (1) an increase of $2,509.2 million in estimated tax collections; (2) an increase of $33.1 million in departmental revenues (non-tax receipts deposited into the general fund); and (3) a decrease of $339.4 million in net appropriations.
Notice that a substantial amount of the surplus is because of a decrease in appropriations. That means that they planned to spend it, but didn’t. The government actually has more money than it knows how to spend.
Give it back.
Evers is giving some of it back…. but in a totally liberal / communist redistribution scheme.
https://www.fox6now.com/news/evers-150-for-wisconsin-residents
They have the data to know how much each resident paid into State taxes, send back a matching portion to each person rather than just divide it equally, even between the grifters.
Maybe they can spend a true scientist in the Covid area and not listen to the fake doctor Fauci.
I saw this in the Portage newspaper: https://www.wiscnews.com/community/baraboonewsrepublic/beaver-dam-nearly-blows-17-point-halftime-lead-vs-stoughton-but-ultimately-snaps-6-game/article_1ed9b94a-bb1e-5232-a579-6887d59df9be.html
Why the hell is a high school basketball player wearing a mask during a game? It is more stupidity upon stupidity on the part of the State of Wisconsin and/or the WIAA.
Pay down the state debt before sending it back to the taxpayers
Good idea…..except that Wisconsin’s debt is largely low-interest. Should WI have to borrow in the next few years, WI will pay a LOT more in interest. We’re better off keeping the cash in the bank and running pay-as-you-go.