MADISON, Wis. (WRN) — New projections show Wisconsin’s state surplus now stands at $4.3 billion.
The Legislative Fiscal Bureau projects the state will now finish the 2023-25 budget with that surplus. It projects tax revenues to be $894.3 million higher than what the Evers administration had expected in November, mainly due to revised estimates for sales tax collections through midyear.
The LFB attributes the increased revenues to new forecasts that incorporate President Donald Trump’s proposed tariffs, which are “expected to increase inflation and nominal consumer spending.”
The Republican co-chairs of the Legislature’s Joint Finance Committee, Senator Howard Marklein and Representative Mark Born, say Governor Evers has refused to support meaningful tax relief, and they remain committed to returning the surplus to taxpayers.