It’s still working
September 13, 2012
Despite job creation stifled by federal tax and regulatory policies, Wisconsin has produced more good news and fewer disappointments since Governor Walker’s reforms were enacted last year.
The latest good news came in two announcements last week.
Last Wednesday the Department of Revenue announced that tax collections during fiscal year 2011-12 exceeded last spring’s projections by more than $126 million. State law requires half the amount to be held in a “rainy day” fund, which will roughly double in size with the $63 million transfer.
The Department of Administration will close the books on FY2011-12 with a report next month, and if it shows spending in line with earlier projections, the two-year budget period will end with a $274 million surplus.
Not bad for a bunch of guys who entered office 21 months ago facing a $3.6 billion deficit.
Meanwhile, the nonpartisan Wisconsin Taxpayers Alliance detailed its findings that the year-to-year increase in property taxes averaged just 0.2 percent statewide for 2012, the smallest increase since 1997.
Property taxes levied by school districts actually declined by a full one percent. The decrease was the first in six years.
By discarding belligerence toward private enterprise and the determination to squeeze taxpayers ever harder, Wisconsin got itself on a sound footing. The whole country now has a chance to do the same.