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New Budget Projections Show Need for Fiscal Responsibility

May 7, 2020 by AFP

MADISON, WI– Following the release of an updated budget projection from the Legislative Fiscal Bureau showing an $870 million decline in tax collections in April alone and coming on the heals of Governor Evers’ announcement that Wisconsin will likely face a nearly $2 billion deficit in the coming fiscal year, Americans for Prosperity – Wisconsin (AFP-WI) encourages the legislature and Governor to make fiscally responsible decisions, seek cost savings, and empower businesses to safely reopen soon to mitigate further economic damage.

AFP-WI State Director Eric Bott issued the following statement:

“Wisconsin policymakers have spent years making the tough, but prudent, budget decisions that allowed us to make regular deposits into the Rainy Day Fund, improve our bond rating, and fully fund our pension system –  all while providing over $13 billion in tax relief. The economic disaster caused by COVID-19 and the ensuing shutdowns is no reason to reverse course.

“We encourage policymakers to lean into their principles and the roadmap of the last decade to help navigate the coming budget deficit. Lawmakers must identify ways to reduce and re-prioritize spending while protecting Wisconsin taxpayers.

“To mitigate further economic damage, policymakers must work together with our businesses to develop solutions that get as many Wisconsinites as possible back to work safely and quickly. We can and should open our economy while protecting public health.”

For further information or an interview, reach Nicole Tardif at NTardif@afphq.org or (571) 329-0161.