Scott Walker’s Tax Cuts Have Wisconsin In Fiscal Jeopardy
The shortfall now is $281 million, and it’s growing.
Wisconsin tax collections for the past year came in 2 percent short of estimates, the state Department of Revenue reported Thursday, news that won’t require immediate emergency action by the Legislature but that puts the state’s budget on track to be out of balance next year.
The figures show the state collected $281.2 million less for the fiscal year that ended in June than was anticipated by the nonpartisan Legislative Fiscal Bureau.
Gov. Scott Walker and the Republican-controlled Legislature have cut taxes by nearly $2 billion since Walker took office in 2011, including $500 million in March, a fact they’ve trumpeted on the campaign trail but that Democrats say has put the state’s budget in jeopardy