Lowering the Tax Burden &
Implementing Responsible Budgeting
Truth in Budgeting Act
I've introduced this legislation with State Representative Leah Vukmir (R-Wauwatosa), which is aimed at restoring honest accounting principles to our state budget process.
Specifically, the bill requires the legislature to achieve a balanced budget according to the Generally Accepted Accounting Principles (GAAP) by the 2015-16 budget. According to the Wisconsin Taxpayers Alliance, Wisconsin has been running GAAP deficits for nearly twenty years, and is one of only two states (Illinois and Wisconsin) with deficits in each of the last ten years.
By achieving a GAAP balanced budget by 2015, we can end the harmful budgeting tricks and gimmicks that have plagued our state's budget for years. Just like families all across the state, state government needs to tighten its belt and make responsible decisions regarding the upcoming budget process. We need to stop putting spending on the state's credit card and need a plan to eliminate the deficit.
Specifically, the bill requires the legislature to achieve a balanced budget according to the Generally Accepted Accounting Principles (GAAP) by the 2015-16 budget. According to the Wisconsin Taxpayers Alliance, Wisconsin has been running GAAP deficits for nearly twenty years, and is one of only two states (Illinois and Wisconsin) with deficits in each of the last ten years.
By achieving a GAAP balanced budget by 2015, we can end the harmful budgeting tricks and gimmicks that have plagued our state's budget for years. Just like families all across the state, state government needs to tighten its belt and make responsible decisions regarding the upcoming budget process. We need to stop putting spending on the state's credit card and need a plan to eliminate the deficit.