The recent budget bill changes the trajectory of Wisconsin. For nearly a decade, state government was paralyzed by debt and escalating taxes. Businesses were leaving and taking their jobs elsewhere. Taxpayers were told one thing, and handed a bill for another.
It wasn’t easy, but this budget bill eliminates Wisconsin’s revolving deficits and makes government live within the means of its taxpayers. For months, those that wanted to protect the status quo spending in Wisconsin attacked every reduction and reform that was offered €“ but here’s a list of ten good facts on how this budget will help build a better Wisconsin:
- Taxes were reduced overall by $24 million dollars.
- Property taxpayers will not be hit with a projected $730 property tax increase had budget reforms and freeze not been enacted.
- Key services for senior citizens, like SeniorCare, were preserved.
- A $3.6 billion deficit is wiped away €“ putting us on a path to a surplus come 2012.
- This budget reverses 14 years of deficit spending.
- Tax relief is targeted to spur sustainable private sector job growth. One provision incentivizes investment in Wisconsin business.
- Wisconsin will phase in a significant tax credit for two of Wisconsin’s core industries €“ agriculture and manufacturing.
- It eliminates 1,000 open vacancies in Wisconsin state government while avoiding tens-of-thousands of layoffs by reforming how government works for us.
- The budget maintains funding for critical programs we have come to expect and value, like recycling.
- The budget was passed on time.
This budget sets Wisconsin apart from our neighboring states and truly makes us a more favorable place to live, work, and attract business. Illinois will end their fiscal year with an $8 billion structural deficit after raising taxes on their citizens and businesses. Minnesota is on the brink of a government shutdown due to differences between their Democratic Governor and their Republican-controlled House and Senate. They are debating nearly $2 billion in tax increases proposed by Governor Dayton.
Our budget makes tough decisions while enacting necessary reforms that give local governments the tools they need to balance their budgets during these trying economic times. Most importantly, it protects taxpayers from increased taxes due to government overspending.
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