The Legislature’s nonpartisan budget office estimated that Wisconsin would reach June 2019 with $385 million in its main account, better than the $248 million that had been previously expected.
The Legislative Fiscal Bureau said that the improved projection was a result of tax collections coming in $76 million higher than expected and the state spending $98 million less than expected because of favorable debt refinancing.
State tax revenue is doing well enough on other fronts to make up for a $49 million the Walker administration predicts will be lost as a result of the federal tax cuts signed last month by President Donald Trump. The decrease largely results from allowing businesses to immediately deduct some purchases of equipment and other goods.