Wisconsin is Working Governor Walker’s 2017 -2019 Executive Budget 2017-19 Executive Budget Highlights
Wisconsin is working • U NEMPLOYMENT R ATE IS AT A 15 Y EAR L OW • 2016 P RODUCED THE H IGHEST L EVEL OF E MPLOYMENT IN S TATE H ISTORY • 2015/2016 W ERE THE B EST B ACK -T O -B ACK Y EARS OF A VERAGE W EEKLY W AGE G ROWTH IN O VER A D ECADE • T OP T EN IN THE N ATION FOR L ABOR F ORCE P ARTICIPATION R ATE 2017-19 Executive Budget Highlights
Student Success • S TATE A ID FOR S CHOOLS AT AN A LL -T IME H IGH • L ARGEST I NCREASE IN O VER A D ECADE • S IGNIFICANT I NCREASES FOR R URAL S CHOOLS • M ORE THAN $100 M ILLION M ORE I NVESTED INTO UW S YSTEM • T UITION FOR R ESIDENT U NDERGRADS R EDUCED BY 5 P ERCENT • W ISCONSIN N EEDS -B ASED F INANCIAL A ID G RANTS I NCREASE TO A R ECORD H IGH 2017-19 Executive Budget Highlights
K-12 School Funding Highest Ever $6.0 $7,500 $5.8 $7,000 $5.6 State Aid Aid Per Pupil $6,500 $5.4 State Aid in Billions $5.2 Aid Per Pupil $6,000 $5.0 $5,500 $4.8 $4.6 $5,000 $4.4 $4,500 $4.2 $4.0 $4,000 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 *Total general and categorical aids. 2017-19 Executive Budget Highlights
Accountable Government • K EEPING THE P ROMISE TO H OLD THE L INE ON P ROPERTY T AXES • C UTTING I NCOME T AXES • S IGNIFICANT I NVESTMENTS IN T RANSPORTATION • M AJOR A CTIVE R OAD P ROJECTS ON S CHEDULE 2017-19 Executive Budget Highlights
Property Tax Savings Add Up 2017-19 Executive Budget Highlights
Income Tax Savings Add Up Median Income Family of Four Saves $1,542 Over Six Years TY13 TY14 TY15 TY16 TY17 TY18 Median income family Six-year total reduction reduction reduction reduction reduction reduction Rate cuts effective in TY13 -$186 -$187 -$185 -$184 -$184 -$182 -$1,108 Rate cuts effective in TY14 -- -$57 -$59 -$59 -$59 -$61 -$295 Rate cuts effective in TY17 -- -- -- -- -$69 -$70 -$139 Total -$186 -$244 -$244 -$243 -$312 -$313 -$1,542 -4.8% -6.2% -6.3% -6.3% -8.0% -8.1% Percent Reduction Tax Rate Reduction, TY12-TY17 Rate Bottom Rate 2nd Rate 3rd Rate 4th Rate Top Rate Before 4.60% 6.15% 6.50% 6.75% 7.75% $37,450 $29,960 6.27% After 3.90% 5.74% 7.65% 2017-19 Executive Budget Highlights
INCOME TAX CUTS FOCUSED ON THE MIDDLE CLASS Tax Relief by Income Class in 2018, All Filers Effect of 2013, 2014, & 2017 Rate Cuts 0 -5 Tax Cut (Millions of Dollars) -10 -15 -20 -25 -30 -35 -40 -45 ≤ 10 10 to 20 20 to 30 30 to 40 40 to 50 50 to 60 60 to 70 70 to 80 80 to 90 90 to 100 100 to 110 110 to 120 120 to 130 130 to 140 140 to 150 150 to 160 160 to 170 170 to 180 180 to 190 190 to 200 200 to 210 210 to 220 220 to 230 230 to 240 240 to 250 250 to 260 260 to 270 270 to 280 280 to 290 290 to 300 Wisconsin Adj. Gross Income Category ($1,000s) 2017-19 Executive Budget Highlights
State Highway Rehabilitation Highest Level Ever $1,800 $1,600 $1,400 $1,200 (Millions) $1,000 $800 $600 $400 $200 $0 1997-99 1999-01 2001-03 2003-05 2005-07 2007-09 2009-11 2011-13 2013-15 2015-17 2017-19 2017-19 Executive Budget Highlights
Local General transportation Aids Highest Ever $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 CY97CY98CY99CY00CY01CY02CY03CY04CY05CY06CY07CY08CY09CY10CY11CY12CY13CY14CY15CY16CY17CY18CY19 Municipalities Counties 2017-19 Executive Budget Highlights
Rewarding Work • C HANGES TO THE F OOD S HARE E MPLOYMENT AND T RAINING P ROGRAM ARE E STIMATED TO GIVE AS MANY AS 80,000 W ISCONSINITES THE O PPORTUNITY TO P ARTICIPATE IN E MPLOYMENT AND T RAINING • I NCREASING AND E XPANDING THE E ARNED I NCOME T AX C REDIT TO B ENEFIT M ORE THAN 140,000 I NDIVIDUAL F ILERS • E LIMINATE C HILD C ARE C LIFF TO END THIS D ISINCENTIVE TO W ORK • N UMEROUS E DUCATION P ROGRAMS TO I MPROVE A TTAINMENT • A DDITIONAL I NVESTMENTS IN T ECHNICAL C OLLEGES AND W ORKER T RAINING P ROGRAMS 2017-19 Executive Budget Highlights
131,000 Families with one dependent to See EITC Nearly Triple $374 $248 $136 $90 Average Credit Maximum Credit Current Law Governor's Recommendation 2017-19 Executive Budget Highlights
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