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