What's New
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TAXPAYER: The Local Squeeze?
Since 1995, state shared revenues to municipalities and counties have been significantly reduced three times, leaving these aids below their 1990 levels. Those reductions, along with state-mandated property tax limits initiated in 2005-06, held the average growth in municipal and county revenues to less than 3% per year since then. With lagging revenues, local governments continued to fund public safety but slowed spending in other areas. They also continued to borrow, so debt service expenditures in annual budgets are growing quickly.
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BLOG: Wisconsin student loan debt in perspective
The Federal Reserve Bank of New York (FRBNY) recently published information on student debt by state. In particular, they provide maps showing how various measures of student loan debt in Wisconsin compares to other states for the 1st quarter of 2013.
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FOCUS: After the rush: Who pays the Wisconsin income tax?
Who paid what during the recent income tax filing season will not be known for months, but information from state returns filed during 2012 is suggestive. Half of filers (51.4%) had 2011 adjusted gross incomes below $30,000 and paid 3.8% of $6.4 billion in income taxes. More than half of state income taxes (55.2%) were paid by the 10.4% of filers with incomes at or above $100,000.
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BLOG: To spend or not to spend
The Legislative Fiscal Bureau (LFB) recently released new revenue estimates for 2013-15, which were $575 million higher than its January forecast. As is customary, legislators responded by suggesting how the money should be used. However, several factors argue for a cautionary approach to the revenue surprise.
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TAXPAYER: School Options in Wisconsin
Public school options for Wisconsin students have expanded from one program serving about 13,000 students in a few cities in 1977 to five programs serving about 126,000 students statewide. Participation in the parental choice program in Milwaukee and Racine has risen from 300 in the early 1990s to more than 22,000 in 2012. Statewide open enrollment has experienced similar gains, from 2,464 in 1999 to more than 37,000 today. These programs affect school finances differently, with some having ripple effects throughout the state.
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Focus: Spring cleaning checklist: Basement, garage, income tax
Whether its dislike for burdensome regulation and complex tax law or an urge to do some "legislative housekeeping," several state lawmakers are looking to streamline a state income tax complicated by years of tinkering.
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The Affordable Care Act & Wisconsin
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