Gov. Walker downplays reduction in tax revenues - WKOW 27: Madison, WI Breaking News, Weather and Sports

Gov. Walker downplays reduction in tax revenues

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MADISON (WKOW) -- Wisconsin's tax revenues are down substantially from one year ago, but Governor Scott Walker (R-Wisconsin) says that is not a sign that the state's economy is slumping.
 
New numbers released from the Wisconsin Department of Revenue Friday show the state's tax collections were down in the fiscal year ending in April by more than 20 percent from the year before.

Personal income tax collections dropped by over 30 percent, while corporate tax revenue was down 13 percent.    

Gov. Walker and legislative Republicans had been touting past increases in state tax revenue as a sign both individuals and businesses were making more money and the economy was improving.
   
"Well, we'll watch. Remember, those numbers go through April," said Gov. Walker.  "In April, we had a dynamic change in terms of withholding being altered dramatically as of April 1st so, we'll see."

State income tax withholding was reduced beginning in April as a way to put more money into people's pockets. 
  
Mary Burke's campaign jumped on the reduction in revenue, saying it showed Governor Walker's tax cuts based on "rosy revenue projections" were misguided.

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