Daily Tax Report: State

Revenue Surge in Wisconsin Fans Republican Talk of Tax Cuts

Jan. 24, 2020, 3:41 PM

Republicans in the Wisconsin Legislature are calling for another round of tax cuts, funded by stronger-than-expected revenue collections that will likely leave the state with a significant surplus at the end of the 2021 fiscal year.

The nonpartisan Legislative Fiscal Bureau on Thursday revised its revenue projections for the 2020-21 biennium—the period through June 30, 2021—pointing to a net general-fund surplus of $620 million. The surplus is $452 million more than lawmakers projected when the budget was approved last year. The bureau attributed the state’s comfortable fiscal position largely to an estimated $818.2 million spike in tax collections.

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