Revenue Estimates Reflect Strong Fiscal Management, Create Opportunities to Address Affordability

MADISON, WI – Today, the Legislative Fiscal Bureau (LFB) released updated revenue estimates showing stronger-than-expected growth in revenue collections. In response to the updated estimates, Joint Committee on Finance (JFC) Co-Chairs Senator Howard Marklein (R-Spring Green) and Representative Mark Born (R-Beaver Dam) issued the following statement:

“These revenue estimates are further proof that Legislative Republicans’ long-standing commitment to responsible budgeting and fiscal discipline is working. Through careful planning, conservative assumptions, and thoughtful decision-making, Wisconsin remains on strong financial footing, even in the face of economic uncertainty.

“Strong revenue collections, paired with sound fiscal management, have given the Legislature the ability to meet our core obligations while also remaining mindful of the cost-to-continue pressures facing the state budget. This disciplined approach ensures Wisconsin is prepared not only for today, but for the long term.

“Legislative Republicans have prioritized stability and restraint. These estimates allow us to continue to focus on policies that help families, seniors, and workers keep more of what they earn, while continuing to fund essential services relied upon by communities across the state.

“Despite stronger-than-expected collection numbers, we must remain cautious. These increased revenue estimates are driven in part by strong stock market performance and resulting tax collections. We must be careful when committing to ongoing spending using one-time money. Our disciplined approach has delivered results and put Wisconsin in a strong fiscal position. Legislative Republicans will continue to build on that success.”

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.