The state revenue shortfall initially estimated to be in range of $400 million dollars is actually considerably greater, according to the latest numbers. The Legislative Fiscal Bureau released projections Wednesday which indicate that Wisconsin faces a projected $652.3 million shortfall for the biennial budget period. LFB Director Bob Lang said in a letter to the co-chairs of the legislature’s Joint Committee on Finance that the January tax collections and February forecast “both point to further weakness in general fund tax collections.”
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