Evers could face $1.9b shortfall heading into second budget
MADISON, Wis. (AP) — A new analysis shows Democratic Gov. Tony Evers would face a nearly $2 billion shortfall heading into his second budget.
The Legislative Fiscal Bureau released an analysis Monday that shows the state would face a $1.9 billion imbalance in the general fund heading into the 2021-23 fiscal year if the state maintains all the spending commitments in current law, such as honoring tax credits for Foxconn Technology Group, as well as in Evers’ 2019-21 budget, including funding two-thirds of K-12 education costs.
The shortfall would be the largest since the general fund started with a $2.5 billion imbalance heading into the 2013-15 biennium.
The estimate doesn’t factor in revenue growth, population increases or decreases, inflation or changes Republicans may make to the 2019-21 budget this summer.
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