{"id":8553,"date":"2024-01-25T20:29:48","date_gmt":"2024-01-25T21:29:48","guid":{"rendered":"https:\/\/wifamily.news\/?p=8553"},"modified":"2024-01-25T21:59:57","modified_gmt":"2024-01-25T21:59:57","slug":"wisconsin-republicans-say-lower-revenue-estimates-shouldnt-derail-tax-cut","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=8553","title":{"rendered":"Wisconsin Republicans Say Lower Revenue Estimates Shouldn\u2019t Derail Tax Cut"},"content":{"rendered":"<p>This post originally appeared at <a href=\"https:\/\/www.wisconsinrightnow.com\/wisconsin-republicans-lower-revenue-estimates-shouldnt-derail-tax-cut\/\">https:\/\/www.wisconsinrightnow.com\/wisconsin-republicans-lower-revenue-estimates-shouldnt-derail-tax-cut\/<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/wifamily.news\/wp-content\/uploads\/2023\/04\/wisconsin-150x150-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Wisconsin Republicans Parental Bill of Rights Outlaw Child Sex Dolls Embrace Them Both Unemployment Reforms Wisconsin\u2019s Professional Licensing Bail Reform Amendment wisconsin covid-19\" title=\"Wisconsin Republicans\" \/><\/p>\n<p>(The Center Square) \u2013 Wisconsin\u2019s budget-makers are expecting less money over the next year but say that shouldn\u2019t stop the state from giving taxpayers some of their money back.<\/p>\n<p>The Legislative Fiscal Bureau released an updated revenue forecast for the state budget that will end in June 2025.<\/p>\n<p>\u201cBased upon our analysis, we project the closing, net general fund balance at the end of this biennium (June 30, 2025) to be $3,152.0 million. This is $439.1 million below the net balance that was projected at the time of enactment of the 2023-25 biennial budget,\u201d the report stated.<\/p>\n<p>Most of that decrease, some $422 million, comes from an expected drop in tax collections.<\/p>\n<p>Sen. Howard Marklein, R-Spring Green, and Rep. Mark Born, R-Beaver Dam, the head of the budget writing Joint Finance Committee said even with the lower estimate, a $3.1 billion surplus is plenty of money to pay for a tax cut for Wisconsinites.<\/p>\n<p>\u201cEarlier this week, Republicans introduced a plan to send over $2 billion to the people of Wisconsin through targeted relief to middle income earners, families, and retirees,\u201d Marklein and Born said in a statement. \u201cOur plan builds on the decade-long practice of returning money to hardworking taxpayers, which has resulted in over $22 billion of savings for Wisconsin individuals, families and businesses. Our budget funded our priorities and met our obligations. Now we must return the excess to taxpayers. These updated revenue estimates show we have the money to do it.\u201d<\/p>\n<p>That proposal would target the tax cut to families who make $150,000 or less.<\/p>\n<p>Marklein and Born said Wisconsin can provide that kind of relief, because of years of Republican budgeting.<\/p>\n<p>\u201cThese estimates are consistent with what we expected when we crafted our budget. We created a responsible budget that protects taxpayer resources, while making important investments in our state. A decade of sound fiscal policies have contributed to the continued growth of our state\u2019s economy and state government\u2019s bottom line,\u201d the two added.<\/p>\n<p>In addition to the $3.1 billion surplus, Wisconsin, Marklein and Born said the state has $1.8 billion in its rainy day fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post originally appeared at https:\/\/www.wisconsinrightnow.com\/wisconsin-republicans-lower-revenue-estimates-shouldnt-derail-tax-cut\/ (The Center Square) \u2013 Wisconsin\u2019s budget-makers are expecting less&#8230;<\/p>\n","protected":false},"author":70,"featured_media":2388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wi-right-now"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/8553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8553"}],"version-history":[{"count":2,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/8553\/revisions"}],"predecessor-version":[{"id":8555,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/8553\/revisions\/8555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/2388"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}