Wisconsin is working U NEMPLOYMENT R ATE IS AT A 15 Y EAR L OW 2016 - - PowerPoint PPT Presentation

▶
wisconsin is working
SMART_READER_LITE
LIVE PREVIEW

Wisconsin is working U NEMPLOYMENT R ATE IS AT A 15 Y EAR L OW 2016 - - PowerPoint PPT Presentation

Nov 21, 2023 271 likes •393 views

Wisconsin is Working Governor Walkers 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

slide-1
SLIDE 1

Wisconsin

is Working

2017-19 Executive Budget Highlights

Governor Walker’s 2017-2019 Executive Budget

slide-2
SLIDE 2

Wisconsin is working

  • UNEMPLOYMENT RATE IS AT A 15 YEAR LOW
  • 2016 PRODUCED THE HIGHEST LEVEL OF EMPLOYMENT IN

STATE HISTORY

  • 2015/2016 WERE THE BEST BACK-TO-BACK YEARS OF

A

VERAGE WEEKLY WAGE GROWTH IN OVER A DECADE

  • TOP TEN IN THE NATION FOR LABOR FORCE PARTICIPATION

RATE

2017-19 Executive Budget Highlights

slide-3
SLIDE 3

Student Success

  • STATE AID FOR SCHOOLS AT AN ALL-TIME HIGH
  • LARGEST INCREASE IN OVER A DECADE
  • SIGNIFICANT INCREASES FOR RURAL SCHOOLS
  • MORE THAN $100 MILLION MORE INVESTED INTO UW SYSTEM
  • TUITION FOR RESIDENT UNDERGRADS REDUCED BY 5 PERCENT
  • WISCONSIN NEEDS-BASED FINANCIAL AID GRANTS INCREASE TO A

RECORD HIGH

2017-19 Executive Budget Highlights

slide-4
SLIDE 4

K-12 School Funding Highest Ever

2017-19 Executive Budget Highlights $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $4.0 $4.2 $4.4 $4.6 $4.8 $5.0 $5.2 $5.4 $5.6 $5.8 $6.0 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Aid Per Pupil State Aid in Billions State Aid Aid Per Pupil

*Total general and categorical aids.

slide-5
SLIDE 5

Accountable Government

  • KEEPING THE PROMISE TO HOLD THE LINE ON PROPERTY

TAXES

  • CUTTING INCOME TAXES
  • SIGNIFICANT INVESTMENTS IN TRANSPORTATION
  • MAJOR ACTIVE ROAD PROJECTS ON SCHEDULE

2017-19 Executive Budget Highlights

slide-6
SLIDE 6

Property Tax Savings Add Up

2017-19 Executive Budget Highlights

slide-7
SLIDE 7

Income Tax Savings Add Up

Median Income Family of Four Saves $1,542 Over Six Years

2017-19 Executive Budget Highlights

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

Percent Reduction

  • 4.8%
  • 6.2%
  • 6.3%
  • 6.3%
  • 8.0%
  • 8.1%

Median income family Six-year total TY17 reduction TY18 reduction TY13 reduction TY14 reduction TY15 reduction TY16 reduction

Rate Bottom Rate 2nd Rate 4th Rate Top Rate Before 4.60% 6.15% 6.50% 6.75% 7.75% After 3.90% 5.74% 7.65%

Tax Rate Reduction, TY12-TY17

6.27% 3rd Rate

$29,960 $37,450

slide-8
SLIDE 8

INCOME TAX CUTS FOCUSED ON THE MIDDLE CLASS

2017-19 Executive Budget Highlights

  • 45
  • 40
  • 35
  • 30
  • 25
  • 20
  • 15
  • 10
  • 5

≤ 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 Tax Cut (Millions of Dollars) Wisconsin Adj. Gross Income Category ($1,000s)

Tax Relief by Income Class in 2018, All Filers Effect of 2013, 2014, & 2017 Rate Cuts

slide-9
SLIDE 9

State Highway Rehabilitation Highest Level Ever

2017-19 Executive Budget Highlights $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 1997-99 1999-01 2001-03 2003-05 2005-07 2007-09 2009-11 2011-13 2013-15 2015-17 2017-19

(Millions)

slide-10
SLIDE 10

Local General transportation Aids Highest Ever

2017-19 Executive Budget Highlights $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 $400,000,000 $450,000,000 $500,000,000 CY97CY98CY99CY00CY01CY02CY03CY04CY05CY06CY07CY08CY09CY10CY11CY12CY13CY14CY15CY16CY17CY18CY19 Municipalities Counties

slide-11
SLIDE 11

Rewarding Work

  • CHANGES TO THE FOODSHARE EMPLOYMENT AND TRAINING

PROGRAM ARE ESTIMATED TO GIVE AS MANY AS 80,000 WISCONSINITES THE OPPORTUNITY TO PARTICIPATE IN EMPLOYMENT

AND TRAINING

  • INCREASING AND EXPANDING THE EARNED INCOME TAX CREDIT TO

BENEFIT MORE THAN 140,000 INDIVIDUAL FILERS

  • ELIMINATE CHILD CARE CLIFF TO END THIS DISINCENTIVE TO

WORK

  • NUMEROUS EDUCATION PROGRAMS TO IMPROVE ATTAINMENT
  • ADDITIONAL INVESTMENTS IN TECHNICAL COLLEGES AND WORKER

TRAINING PROGRAMS

2017-19 Executive Budget Highlights

slide-12
SLIDE 12

131,000 Families with one dependent to See EITC Nearly Triple

2017-19 Executive Budget Highlights

$90 $136 $248 $374

Average Credit Maximum Credit Current Law Governor's Recommendation