In a memo to the co-chairs of the Joint Finance Committee, Legislative Fiscal Bureau Director Bob Lang says that while 2014-15 tax collections may exceed earlier estimates, collections for the next two fiscal years are expected to grow more slowly than expected, meaning no extra revenue for the 2015-17 state budget.
“On balance, we believe that the current estimates for the three-year period are still reasonable and should not be adjusted,” Lang said.
Read the LFB memo here.
Reaction to the budget news:
No hike in revenue estimates forces tough budget decisions
Update: Vos: Lawmakers to restore K-12 cuts despite lack of new revenue
No additional tax revenue projected in Wisconsin; lawmakers vow K-12 won’t be cut $127 million