On Wednesday May 10, the Legislative Fiscal Bureau released their revenue projections for the current fiscal year (2016-17) and for the upcoming biennium (2017-19). This May release is timed with the Joint Finance Committee’s budget votes, allowing for JFC to utilize updated revenue numbers.
In their memo, LFB Director Bob Lang explained that their January estimates are still on track and do not need to be adjusted. In January, LFB projected the state would take in $15.5 billion in the current fiscal year, $16 billion in 2017-18 and $16.6 billion in 2018-19.
Upon the release of the estimates, JFC co-chairs, Rep. John Nygren (R-Marinette) and Sen. Alberta Darling (R-River Hills) issued a statement praising the estimates as a “great starting point” for the budget.