Wisconsin Surplus Becomes Mount Everest

Last time I made jokes about Wisconsin’s tax surplus, it sat at $5B. Since then, it’s gained even more cash to the point where the Wisconsin Legislature can pull a Scrooge McDuck. What the heck is going on here?

Here’s Five Fast Facts Wisconsin’s Growing Surplus :

‍

1. 💰 A New High - It’s now at $6.6B. That’s not a typo. It’s at $6.6 BILLION.
2. 💸 A Plan, Man - Gov. Evers has publicly announced a few solutions including an increase to school funding, a cap on insulin prices and cutting taxes on the middle class, among others.
3. 💵 Republicans: “NOPE!” - The Republican-controlled Legislature has other ideas like funding the programs and agencies Wisconsinites need and making an across-the-board tax cut.
4. 🤑 Pricey Price Tag - If all requests are approved, state government spending would increase by $47.7B in the 2023-2024 budget year.
5. 📅 How Soon Is Now - Evers will submit his two-year state spending plan in February. As in years past, Republicans will reject it and rewrite it and then put it up for a vote in July. It’s another stalemate where no one gets exactly what they want but that’s how it goes when spending other people’s money, right?

‍

🔥Bottom line: No matter how you look at it, the money is ours. They’re sitting on it and not doing anything with it until lawmakers meet up again in January 2023. There are many many public entities in the state that are in dire need of funding AND a lot of folks who could use the extra cash from tax breaks. So, let’s hope they figure it out fast before everyone starts lining up to swim in the mountains of money!!!

‍

How do you think they should spend it?

‍

Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!

‍

Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!

‍