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Monday, November 18, 2024

MBS Capitol Insights - June 17, 2022 – Michael Best Strategies

Principal

Former State Rep. Mike Kuglitsch (R-New Berlin) has joined Michael Best Strategies as a principal in our Madison office. Kuglitsch announced his retirement from the Assembly in February 2022 after serving for nearly twelve years. He was the Chair of the Assembly Committee on Energy & Utilities and also served as the National Chair of Energy, Environment & Agriculture for the American Legislative Exchange Council (ALEC).

“Mike Kuglitsch is an accomplished lawmaker with strong bipartisan relationships across government, and we’re thrilled to welcome him to the Michael Best family,” said Robert Marchant, president of Michael Best Strategies. “Michael Best Strategies is Wisconsin’s preeminent firm for businesses with government relations, business consulting and strategic communications needs, and Mike’s experience will help accelerate our clients’ success.”

“As a businessman turned public servant with deep experience at the intersection of business and politics, I understand how government can either foster or prohibit economic growth,” said Mike Kuglitsch. “Michael Best Strategies is a growing bipartisan firm, and I’m excited to join the team and advance productive solutions for clients and taxpayers.”

2023-2025 Budget Updates

Evers kickstarts the 2023-2025 budget process

On June 7th Wisconsin Governor Tony Evers officially began the 2023-2025 budget process by sending a letter to department secretaries and agency heads outlining the parameters for their 2023-2025 budget request submissions.

Those requests are statutorily required to be submitted to the State Budget Office and Legislative Fiscal Bureau by September 15th in an even-numbered year. In addition to the fiscal priorities the Governor outlines, the requests the agencies submit must include alternative budget proposals that assume no increase in state funding and a five percent decrease in state funding per fiscal year in the succeeding biennium.

Once all of the budget requests are submitted, the Secretary of the Department of Administration has until November 20th to provide the Governor, or the Governor-elect, and each member of the next Legislature with a document compiling the total amount of each state agency’s biennial budget request, as well as summary information on actual and estimated revenues for the current and forthcoming biennium.

In his letter to the agency heads, Governor Evers highlighted the positive fiscal situation the state of Wisconsin is in, including:

  • a GAAP surplus, including a $1.18 billion surplus at the end of the 2020-21 fiscal year
  • a record high balance of roughly $1.73 billion in the state’s budget stabilization “rainy day” fund
  • a $3.8 billion surplus at the end of the current 2021-23 biennium
  • upgrades from two rating agencies, with one rating upgraded to a AAA level, which is Wisconsin’s first AAA rating since 1982.
Governor Evers noted in his letter that he is “disappointed” the Legislature didn’t act on his request earlier this year to spend $1.7 billion of the surplus to “provide relief to Wisconsinites” but continued having those funds “puts the state in a strong position to meet the needs of our state in the next biennial budget.”

In addition to providing the fiscal parameters that the budget requests should stay within, Governor Evers provided some insight into some of the priorities his proposed budget would include if re-elected this fall. Those priorities include;

  • increased funding for education
  • expanding Medicaid
  • reducing the cost of prescription drugs
  • increased funding for local governments
  • increased funding for roads
  • increased resources and support for “family caregivers, first-time homebuyers, veterans and those incurring child and dependent care expenses.”
Original source can be found here.

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