MADISON, WI (WTAQ-WLUK) – Wisconsin’s projected state budget surplus is growing.
It’s now projected to hit around 6.6 billion dollars by July.
Governor Tony Evers, along with the state legislature, will be deciding over the next several months how this money should be spent.
The budget’s state surplus is at a record high, according to a report by the Department of Administration.
Republican State Rep. David Steffen, (R-Howard), is already working on a proposal.
“That will provide for tax free retirement in the state of Wisconsin so that everyone once they hit retirement age, would not be paying a penny in state income tax.”
According to lawmakers, a reason for the surplus is tax revenues for the state coming in higher than expected.
Local government leaders hope some of the money lands in their communities.
“This so frustrating for local leaders like me…it’s increasingly more difficult to keep up with basic maintenance on our infrastructure, to continue to deliver services, and we are being forced to nickel and dime our local taxpayers,” says Appleton Mayor, Jake Woodford.
Democratic State Rep. Lee Snodgrass, (D-Appleton), agrees.
“If we are not properly funding local government they are going to make cuts to services that we depend on and that includes, fire, police, and safety, community safety.”.
Republican State Rep. John Macco, (R-Ledgeview), tells FOX 11 he believes a portion of the surplus money should be set aside in a rainy day fund.
“About 3 billion dollars is a comfortable number that I think as I look at the various economic factors that seem to be playing, that would still leave us with 3.6 billion dollars nearly four billion dollars of reserves.”
When asked, what is your response to people who say we should spend that and increase spending? Macco responded: “That makes no sense to me, you wouldn’t run your household that way…very few people are just going to spend the money like there’s no tomorrow so we have to handle that the same way.”
“Right now we have a surplus that is paid by the people of Wisconsin for the state of Wisconsin to invest on their behalf,” says Snodgrass.
Legislators on both sides hope they can work together.
In February, Governor Tony Evers will submit his two-year budget to the Legislature.
They’ll rework it before passing the measure in June or July.
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