No Extra Tax Revenue for Wisconsin; Cuts Loom
State leaders had hoped additional tax money would enable them to restore funding for public schools and reduce a proposed $300 million cut to the UW System.
But, according to projections from the Legislative Fiscal Bureau, there will be no extra revenue over the next two years.
The Legislature's Joint Finance Committee has been adjusting Gov. Walker's proposed budget for the state, which includes a $127 million cut to public schools and $300 million to the university system. Committee leaders had expressed optimism that they could restore at least some of the cuts, if Wisconsin took in more tax revenue than expected.
On Wednesday, the director of the bureau recommended to lawmakers that they not adjust the original tax projections.