% EASY TO FILL OUT.
% WE ENCOURAGE PEOPLE TO USE THAT
% PROGRAM.%THANK YOU SO MUCH.
% >> WISCONSIN IS IN THE BEST
% FINANCIAL SITUATION IN THE
% HISTORY OF THE STATE ACCORDING
% TO STATE OFFICIALS.
% WE'RE TALKING ABOUT A PROJECTED
% $6.5 BILLION STATE BUDGET
% SURPLUS.
% THAT'S 6.5 BILLION WITH A B.
% IN THE REPORT "HERE AND NOW"
% REPORTER STEVEN POTTER EXPLORES
% HOW THE STATE CHECKING ACCOUNT
% ENDED UP SO FAR IN THE BLACK AND
% WHAT MAY EFFECT THE STATE'S
% FINANCES GOING FORWARD.
% >> THE STATE IN THE CURRENT
% FISCAL YEAR IN JULY MORE MONEY
% THAN STATE AGENCIES WERE
% ALLOCATED FOR THEIR NEEDS.
% YOUR HOUSEHOLD BUDGET.
% PLANS FOR THE BILLS YOU HAVE AND
% PAY THEM WHEN DUE.
% YOU GET A SURPRISE.
% A LUMP SUMP PAYMENT RIGHT AFTER
% YOU PAY THE BILLS.
% IN THE STATE'S CASE IT'S
% 6.5 BILLION.
% ANALYSTS SAY THE REASON STATE
% COFFERS ARE OVERFLOWING ARE
% BECAUSE OF THREE FACTORS.
% INFLUX OF FEDERAL FUNDS FROM
% COVID RELIEF BILLS THAT OFF SET
% COSTS LIKE MEDICAID.
% ELECTED LEADERS HAVE KEPT TIGHT
% CONTROLS OVER AGENCY SPENDING A
% CONSIDERABLE INCREASE IN TAX
% REVENUE, SALES TAX AND
% INVESTMENT AND CORPORATE TAXES.
% OF COURSE, INFLATION IS PLAYING
% A MAJOR PART IN THIS BALLOONING
% BUDGET SURPLUS.
% THE MORE PEOPLE SPEND, THE MORE
% TAXES ARE COLLECTED.
% OFFICIALS WAR THE PROJECTED
% SURPLUS IS NOT GUARANTEED AND
% THE END AMOUNT MAY BE SMALLER.
% FACTORS INCLUDE A POSSIBLE
% RECESSION NEXT YEAR AS WELL AS
% ECONOMIC DISRUPTIONS WITH THE
% ONGOING WAR IN UKRAINE.
% VOLATILITY OF BUSINESS AND STOCK
% MARKET COULD LEAD THE LESS
% CORPORATE AND INVESTMENT TAXES
% BEING TAKEN IN.
% >> 2010-11 --
% >> THIS SURPLUS IS IN CONTRAST
% TO YEARS PAST WHEN ELECTED
% LEADERS FACED BUDGET SHORTFALLS
% AND DEFICITS.
% REGARDLESS OF HOW MUCH EXTRA
% SURPLUS THE STATE ENDS UP HAVING
% WE CAN BE SURE OF ONE THICK, THE
% STATES ELECTED LEADERS WILL