Sen. Marklein’s Statement on Revised Revenue Projections

MADISON, WI - Sen. Howard Marklein (R-Spring Green) made the following statement today following the release of revised general fund tax collections for 2020-21 and the two years of the 2021-23 biennium which shows an increase of $4.4 billion above January estimates with a projected ending balance of the 2021-23 budget of $5.7 billion:

“The positive news that we received regarding the anticipated tax collections over the next two years is certainly good news for the State of Wisconsin, and good news for our taxpayers. It’s really a testament to how resilient the WI economy has been over the past year.
 
While we had some increased numbers, we need to continue to practice fiscal discipline. It’s easy to practice fiscal discipline when you have limited money in the checkbook, it’s more challenging to practice when there is a lot of money in the checkbook.
 
So we need to stay focused. We need to concentrate on the priorities of the state of Wisconsin. And I certainly hope that we can entertain a tax cut to return some of this excess tax revenue to the taxpayers that paid it to the State of Wisconsin.”

The memo from the Legislative Fiscal Bureau is available here: https://docs.legis.wisconsin.gov/misc/lfb/misc/221_revenue_estimates_june_8_2021.pdf