First Look at the Legislature’s 2023-2025 State Budget: What You Need to Know

Jul 3, 2023 | Policy, Wisconsin Voices Blog

State Capitol

WHAT IS IT: IRG’s team of policy experts did an analysis of the legislature’s budget proposal with a focus on big items you need to know.

WHY DOES IT MATTER: Technically the state budget expired on June 30. Unlike the federal government though, there isn’t a government shutdown in Wisconsin – the state continues operating on the current spending plan until a new one is signed.

Last week both houses of the legislature approved the 2023-2025 state budget, codifying the changes made over the last few months by the Joint Finance Committee to Governor Evers’ original budget proposal. If approved by the Governor, their work will result in a historic income tax cut, increased funding to ensure education options, and a change in the status quo of how we teach children how to read.

WHAT’S NEXT: Now that the legislature’s work is complete, it is Governor Evers’ turn once again. The document before him is far different from what he proposed back in February, and he still owns one of the most powerful veto pens in the country to modify the document before he signs it. He could also sign or veto the entire document and force the process to start over – an unlikely but possible outcome. It is expected that Governor Evers will make his decision to either sign, veto, or partially veto the bill by the end of this week.