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Preliminary figures show Wisconsin tax collections down $281M from projections

MADISON, WI (WTAQ) - State government tax collections fell $281 million short of what was projected for the fiscal year ending June 30th.

Those are preliminary figures released Thursday by the Revenue Department. Officials said the number might change due to outstanding expenses and revenues.

For now, tax revenues are 2 percent short for the first half of the two-year state budget -- and it might require lawmakers to cut spending and-or raise revenues to balance the budget.

Final numbers for the shortfall won't be known until mid-October.

Governor Scott Walker's office did not immediately comment on Thursday's numbers, and neither did his Democratic opponent Mary Burke's campaign.

The current budget year projects a $724 million general fund surplus, so the state might not be in hot fiscal water just yet.

(Story courtesy of Wheeler News Service)