Fiscal bureau: $500M deficit will result from Walker budget changes
MADISON, Wis. (AP) -- A new study estimates changes Republican lawmakers made to Gov. Scott Walker's executive budget will result in a half-billion dollar deficit going into the next two-year spending plan.
The Wisconsin State Journal reports a nonpartisan Legislative Fiscal Bureau's analysis of the 2013-2015 budget the Legislature's finance committee last week would leave the state with a $505 million shortfall in the 2015-2017 biennium.
The committee nearly doubled a Walker income tax cut, increased public school aid and transportation spending, added spending on school vouchers and created a private school tuition tax deduction.
The fiscal bureau's report also says property taxes on an average $154,800 home would increase $58 over the next two years compared with $19 in Walker's original budget.
Information from: Wisconsin State Journal, http://www.madison.com/wsj