Explain It To Me: 2023-2025 State Budget Address

Feb 17, 2023 | Wisconsin Voices Blog

Additional context from IRG’s Policy Analyst, Patrick Hughes:

What happened? On Wednesday, Governor Evers gave his budget address to the legislature and released the proposed 2023-2025 biennial budget. This speech is the Governor’s opportunity to explain his major policy and spending plans for state government over the next two years.

Why is it important? Wisconsin currently has a budget surplus of over $7 billion and our state expenditures and income taxes are higher than neighboring states. According to the Kaiser Family Foundation, in FY 2020, Wisconsin state government spent more per capita ($8,797) than any state in the Midwest and is the 14th highest spending state in the country. Wisconsin is also falling behind on income taxes. Iowa recently passed a flat tax, joining MI, IN and IL as Midwest states with a flat tax; leaving only MN and WI with a progressive income tax.

The 2023-2025 state budget is an opportunity to implement transformational tax and government spending reform to restore Wisconsin’s competitiveness and increase economic growth.

What’s next? The Joint Finance Committee will begin hearings on the budget bill in April and May. The final budget bill is then sent to both bodies of the legislature before going to the Governor’s desk. The goal is to get the new budget signed before the new fiscal year starts on July 1st.