Budget Analysis Shows Nearly $2 Billion Shortfall by 2021-23 Fiscal Year
Tuesday, April 2nd, 2019 -- 1:14 PM
(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, and in Evers’ 2019-21 budget, including funding two-thirds of K-12 education costs and state employee raises.
The estimate is the largest projection since analysts forecast a $2.5 billion imbalance heading into the 2011-13 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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