UPDATE: Increased tax revenue adds $71 million to budget surplus - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

UPDATE: Increased tax revenue adds $71 million to state budget surplus

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MADISON (WKOW) -- The Wisconsin Department of Revenue reports that revenue totals for fiscal year 2013 are $71 million higher than original estimates indicated.

DOR released a report Friday showing that revenue collections are up 4.2% over one year ago.

The increase pushes the state budget surplus up to $741 million, all but $161 million of which will go to fund tax cuts over the next two years.

Assembly Speaker Robin Vos (R-Rochester) tells 27 News that part of that additional $71 million will go into the state's general fund and some will go into the rainy day fund.

"So, our accounting practices are definitely moving Wisconsin in the right direction.  Just this week we had one of the lowest unemployment claims since 2005, showing that more and more jobs are being created in Wisconsin and people are feeling good about where we are," said Rep. Vos.

But Senate Minority Leader Chris Larson (D-Milwaukee) released a statement saying some of that money should be reinvested in public schools.

"An additional $36 million in the classroom does not fill the GOP's $800 million education budget deficit, but it could fully fund Senate Democrats' request for an additional $30 million for special education funding, which would support necessary and critical investment in Wisconsin's disabled students," said Sen. Larson.

Assembly Speaker Robin Vos will be the featured guest on Capitol City Sunday this weekend to talk about the surplus and what he expects to be on the agenda when the legislature reconvenes this fall.

Lisa Subeck, Executive Director of United Wisconsin, will also be on the show to talk about redistricting reform and a package of election reform bills introduced by Sen. Mary Lazich (R-New Berlin) earlier this week.

Capitol City Sunday airs at 9:00 a.m. on WKOW 27.

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