How much money is Wisconsin in debt?

about 22.51 billion U.S. dollars
In the fiscal year of 2020, Wisconsin’s state debt stood at about 22.51 billion U.S. dollars. By the fiscal year of 2026, this is forecasted to increase to about 26.43 billion U.S. dollars.

How much is the Wisconsin state budget?

Published: Tuesday, January 25, 2022, 2:00pm.

What does Wisconsin spend the most money on?

Wisconsin’s largest spending areas per capita were public welfare ($2,340) and elementary and secondary education ($2,110). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.

Where do Wisconsin tax dollars go?

Every year, the state spends money on public services and programs such as education, social services, transportation, and economic development. This spending must be approved every two years by the Legislature and enacted by the Governor in the biennial budget.

Does Wisconsin have a surplus?

The leader of the Wisconsin Department of Revenue said the state is in its strongest financial position in more than 50 years. Speaking Monday on Wisconsin Public Radio’s “The Morning Show,” DOR Secretary Peter Barca said the state is expected to end its current two-year budget with a $3.8 billion surplus.

How is Wisconsin doing financially?

Wisconsin only has $20.9 billion of assets available to pay bills totaling $24.9 billion. Because Wisconsin doesn’t have enough money to pay its bills, it has a $4.1 billion financial hole. To fill it, each Wisconsin taxpayer would have to send $2,000 to the state.

Does WI have a budget surplus?

What is the number one category of spending at the federal government level?

Nearly 60 percent of mandatory spending in 2019 was for Social Security and other income support programs (figure 3). Most of the remainder paid for the two major government health programs, Medicare and Medicaid.

What are the major sources of Wisconsin revenue?

Compared to other states, Wisconsin gets a larger share of its revenue from the property tax and income tax, and a smaller share from sales and excise tax, and corporate income tax.

How much money does Wisconsin make from taxes?

According to the memo from the Legislative Fiscal Bureau, the state brought in about $19.6 billion in tax revenue in the 2020-2021 fiscal year, which is roughly 12 percent higher than the previous year and $319 million more than the most recent estimate predicted.

How much is Wisconsin’s surplus?

Speaking Monday on Wisconsin Public Radio’s “The Morning Show,” DOR Secretary Peter Barca said the state is expected to end its current two-year budget with a $3.8 billion surplus. “We’re in the best shape we’ve been in fiscally in more than a half century.

Where does UW Madison get its funding?

UW–Madison receives revenue from five main sources for its $3.1 billion budget. The university’s mission is supported by state and federal government investments, tuition, research grants, and contributions from friends of the university.