First Look at the Legislature’s 2023-2025 State Budget: What You Need to Know - Executive Summary

As approved by the legislature, the budget now contains a historic income tax cut, increased funding for choice and charter schools, and provided the financial backing to upgrade the status quo of how Wisconsin students learn to read. [...] The budget approved by the Legislature cut $6.8 billion in spending from the Governor’s budget, a 6.4% decrease. [...] In total, the budget approved by the legislature would spend $98.7 billion over the 2023-2025 biennium. [...] The budget now includes $173 million that will be distributed to local governments for reduced revenue from the elimination of the personal property tax. [...] The Committee pulled a and increase the number of provision that would have modified this Wisconsinites in the program.