Posted at 2:45 p.m. on June 19, 2019
The Brillion News
MADISON – State Assembly Speaker Robin Vos said on Wednesday, June 19, that the state’s “rainy day” fund will nearly double. But a GOP cohort, State Rep. Stephen Nass of Whitewater, said he will vote against the budget and outlined why.
Vos, R-Rochester, released a Legislative Fiscal Bureau memo that shows that the Budget Stabilization Fund balance is expected to nearly double with a projected transfer of $291 million. The fund, which is commonly referred to as the rainy day fund, has grown significantly in the last decade under Republican leadership.
“Thanks to a great economy and good budgeting, we can continue to put money into the rainy day fund,” said Speaker Vos. “The Wisconsin budget approved by the Joint Committee on Finance allows for the largest investment into the Budget Stabilization Fund in state history.”
According to the Legislative Fiscal Bureau, the Budget Stabilization Fund now sits at $326 million and is projected to grow to a record high of $617 million by the end of the 2018-2019 fiscal year.
The Wisconsin State Assembly will vote on the budget next week. But don’t expect Nass to vote for it.
“I simply can’t deceive the taxpayers by voting for a budget that creates a significant structural deficit, generates the largest property tax hikes in a decade, contains unsustainable levels of excessive spending and authorizes an extremely offensive new vehicle miles-driven tax on motorists starting in 2023.,” Nass said.” I will vote No.”