(Madison) The Republican-authored state budget was approved by the Wisconsin Senate Wednesday night after the two-year spending plan passed the Assembly on Tuesday. The $87-point-5-billion-dollar document includes tax cuts totaling three billion dollars over two years.
State Senator John Jagler says (quote) “responsible budgeting helped the state generate a historically large surplus.” The Watertown Republican adds that the “goal was to make strategic investments in key areas while still securing our financial future.”
The budget provides $100 million for the local road improvement program, increases special needs education reimbursements by $85 million and grows nursing home reimbursement rates by $250 million. If the budget is signed into law, the rainy-day fund will have a balance of more than $2 billion and the general fund will have a $450 million balance, the largest since 1995.
Governor Tony Evers can sign the spending plan, veto it or cut portions of the budget as Wisconsin affords its governor one of the most powerful veto pens in the country.