Wisconsin ended Fiscal Year 2024 with a positive balance of 4.6 billion dollars according to the Wisconsin Department of Administration. The Annual Fiscal Report also shows that the state’s rainy-day fund has been increased to a record-high 1.9 billion dollars. Meanwhile, the state general fund tax collections increased by 1.7%, which is 1.3% higher than estimated.
A healthy positive balance and rainy-day fund is good, but the rainy-day fund seems exorbitant. Remember that every penny of these funds is taxpayer money. This surplus needs to mean decreased taxes for Wisconsin residents so that more families can become or remain independent and thrive because they are keeping more of their hard-earned money.
