Wisconsin Budget Shock $3.5 Billion @GovWalker & #Republican budget deficit on the rise

[riversedge]

State Sen. Jennifer Shilling


Press Release
Wisconsin Budget Shock

$3.5 Billion Republican budget deficit on the rise



https://urbanmilwaukee.com/pressrelease/wisconsin-budget-shock/



By State Sen. Jennifer Shilling - Sep 21st, 2018 11:25 am

MADISON, WI – After years of fiscal mismanagement, Wisconsin is facing a massive budget deficit based on new information from Gov. Walker’s administration. Years of massive tax breaks for wealthy individuals and corporations like Foxconn have added to the state’s budget woes. Latest figures from the Walker administration and the non-partisan Legislative Fiscal Bureau reveal that Wisconsin is facing a structural deficit of $3.5 billion going into the next budget – a figure that is already expected to rise much higher in the coming months.

“Republican tax breaks for foreign corporations and the wealthy have created a budget crisis in Wisconsin,” said Senate Democratic Leader Jennifer Shilling (D-La Crosse). “It’s no wonder why families are concerned with the outlook for our local schools, roads and businesses. This growing Republican deficit makes it look like Wisconsin is still stuck in a recession. The financial mess, unaccountable corporate tax giveaways and reckless borrowing from Republican politicians is hurting local communities and preventing families from getting ahead.”

The massive increase in unfunded liabilities going into the 2019-21 budget accounts for hundreds of millions in tax giveaways for Foxconn, massive new tax breaks for millionaires, and rising health care costs. Figures for the state’s transportation shortfall, state building maintenance, and aid to local governments have yet to be released by the Walker Administration and are expected to add millions more to the $3.5 billion structural deficit.

Despite strong economic growth in neighboring states, Wisconsin has trailed the nation in job creation every year since Gov. Walker took office. Median wages, when adjusted for inflation, are lower today than they were in 2011 and communities have struggled to overcome deep Republican school cuts, road project delays and ballooning health care costs.

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[riversedge]

1. kick 🌊🌊🌊 #FlipItBlue #BlueWave2018 #VoteThemOUT

[lkinwi]

2. I sure hope so!

[Wellstone ruled]

3. Golly gee whiz,

all those Wisconsinites whom Voted for Walker for their ten dollar tax savings,can now count on thousands in new taxes in order to balance the mandated budget requirements.

But,the likes of Menard,Mills,Fitzgerald,and Koch Industries got their massive Tax Breaks. Guess that does not count. Seen the F-ed up roads this past summer,and we thought it was bad forty years ago. Looking more like Kansas than the old progressive state that I knew.

[msongs]

4. walker elected 3X correct? will dems prevent a 4th.... nt

[dragonlady]

5. Elected 3 times but has served only 2 terms

One was a recall election that he won. As to whether we will prevent a 4th win--we are trying hard!

[msongs]

6. and let's get u the big win for gov and legislature too :-) nt

[dragonlady]

7. Thanks!