Today, the non-partisan Legislative Fiscal Bureau (LFB) released updated revenue projections, which predicted Wisconsin will have a $419.7 million surplus over the course of the 2013-15 state budget.
In reaction to the revenue projections, Governor Walker released the following statement:
The projected $419 million surplus is good news for Wisconsin taxpayers. Unlike two years ago when we faced a $3.6 billion deficit, Wisconsin is better off. Together, we tackled monumental challenges and enacted long-term structural reforms and, because of our tough decisions, we are moving our state forward.
This projected surplus will allow hardworking Wisconsin taxpayers to keep more of the money they earn because I plan to move forward with an income tax cut targeting the middle class.
The budget I will introduce next month will make use of this surplus by focusing on helping the private sector create jobs, transforming education, developing the workforce, reforming government, and investing in infrastructure.