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A local state legislator reacts to news that the State’s general fund has a positive Generally Accepted Accounting Principals balance for the first time since 1990.
Assembly Representative Don Vruwink says Wisconsin is known as a high-tax state and relies heavily on property taxes unlike other states that lean more heavily on sales tax.
The Milton Democrat says news of the positive GAAP general fund balance will likely be well received by investors, resulting in lower borrowing costs for the state.
Vruwink says he was proud that both parties came together this year to accept federal aid for pandemic relief that Governor Tony Evers was able to dole out.