Gov. Evers Announces Unprecedented State Debt Payment
"After eight years of Republicans racking up debt on our state’s credit card, today we’re making one of the most significant additional debt payments in state history."
MADISON — Gov. Tony Evers today responded to the Legislative Fiscal Bureau’s (LFB) updated revenue projections, showing general fund tax collections will be higher than projected by $753 million over the next three years. As the Department of Revenue noted yesterday, the increased projections are largely attributed to one-time federal corporate tax policy changes.
In light of these increased projections, the governor today announced he will be making an additional payment on state debt that would pay off $56 million of state debt with an estimated future debt service savings for Wisconsin taxpayers of nearly $70 million.* The governor is also requesting the Joint Committee on Finance use some of the additional funds during the 2019-21 biennium for an estimated additional $15 million in worker training and an additional $18-million increase in the Wisconsin Technical Colleges System. Once the above critical investments have been made, the governor supports transferring the ending surplus balance at the close of the fiscal year to the budget stabilization fund (a.k.a. the “rainy day fund”).
“It’s pretty simple—this is about putting people first,” said Gov. Evers. “After eight years of Republicans racking up debt on our state’s credit card, today we’re making one of the most significant additional debt payments in state history. I’m also calling on Democrats and Republicans in the Legislature to work together to support my proposal to make additional investments in our workforce. Saving taxpayer money and investing in the future is a win-win.”
*These figures are estimates based on initial analyses from the State Budget Office.
Office of the Governor
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
Mentioned in This Press Release
Recent Press Releases by Gov. Tony Evers
Gov. Evers Announces Wisconsin Taxpayers Will Avoid Paying $205 Million in Potential Penalty Fees Next Year
Jun 25th, 2026 by Gov. Tony EversMonths after Gov. Evers fought to secure more FoodShare support, new data show Wisconsin will be among just nine states to avoid paying penalty fees to Trump Administration in 2027
Gov. Evers Requests Small Business Administration Rapid Disaster Declaration for Wisconsin Communities Affected by Severe Weather
Jun 22nd, 2026 by Gov. Tony EversGovernor requests disaster assistance for Marathon, Rock, Vernon, and Waupaca Counties based on damage assessments, unlocking assistance for over 20 counties across the state
