Each e-update I will answer a question submitted by a recipient of the previous e-update or from someone who contacts my office directly.
Question: I've had several people tell me that we're not really out of debt, that the $150 mil. surplus is a lie. What is the truth?
Answer: The latest revenue projections have shown increased tax collections due to job creation and growth in personal income. As a result, the state will finish the biennium with a $154 million surplus.
At the close of fiscal year 2011 the state put more than $14 million into the budget stabilization fund. This was only the second time in the last decade that taxpayer resources were deposited into this fund. According to current projections, we will put an additional $45.4 million into the budget stabilization fund at the end of fiscal year 2012.
This is great news! For the first time in history Wisconsin is projected to deposit taxpayer resources into the state's rainy day fund in consecutive years.
It has been a pleasure communicating with you. It is an honor to serve as your Governor and represent the residents of Wisconsin.
Governor Scott Walker