Adding to the Deficit — Through Subtraction

by Kids Forward | June 8, 2011

Home 9 Uncategorized 9 Adding to the Deficit — Through Subtraction ( Page 2 )

According to the newest Wisconsin Budget Project blog post, the Joint Finance Committee seemed geniunely committed to addressing the structural deficit (at least on the spending side), until it created a last-minute tax break for manufacturers. This move will nearly eliminates the income tax for many corporations that produce goods in the state.

Here’s an excerpt:

Some politicians and pundits seem to think that structural deficits can always be attributed to phased-in spending increases or short-term budget-balancing measures (such as “raiding” other funds or restructuring bonds). They overlook the fact that delayed or phased in tax cuts can also produce or add to structural deficits.

The short-term political expediency that sometimes leads lawmakers to approve deferred spending increases that they cannot currently afford can also induce them to approve tax cuts that are now unaffordable, and the effects on the structural deficit can be the same.

Read the newest Budget Project blog post for more.

Join us to build a Wisconsin where
every child and family thrives.

Recent

Northeast Wisconsinites Stand up for Medicaid

Northeast Wisconsinites Stand up for Medicaid

Download as PDF Over 35 concerned individuals, mental health service recipients, impacted family members, school and community-based mental health providers, and substance use therapists gathered at Foundations Health & Wholeness in Green Bay to call on decision...

Testimony: Opposing Restrictions on FoodShare

Testimony: Opposing Restrictions on FoodShare

Main Takeaways Kids Forward submitted the below testimony in opposition of AB180/SB154, which seek to restrict the use of SNAP benefits. These proposed restrictions that target recipients of SNAP are harmful and misguided, and do not address systemic barriers....

Sign up for Emails

Your address helps us identify your legislators and the most relevant messages to send you.