State Could Have $94M Less This Budget Cycle Than Previously Thought

New revenue estimates from the Legislature’s nonpartisan budget office show state government won’t have as much in the bank at the end of this budget as previously thought.

The Legislative Fiscal Bureau says the state’s general fund will end with a balance of about $135 million in July of 2017 — $94 million less than previously predicted. The Fiscal Bureau said a drop in tax collections was the biggest factor driving the decrease.

While the new numbers won’t require lawmakers to make any changes to the budget, it could make some of them uneasy about approving new spending during the remaining couple months of session. Already, Green Bay Republican Sen. Rob Cowles urged lawmakers to leave the money alone.

“While the balance shows money in the account, I want to urge caution on spending at the end of session,” he said.

The Legislature could adjourn for the year as early as the end of February.