Wisconsin to Sell Debt as Tax Take Produces $1 Billion SurplusTim Jones
Wisconsin will sell $294.8 million in general-obligation refunding bonds this week in a negotiated sale as the state projects a budget surplus of almost $1 billion.
Surging tax revenue is driving improved fiscal performance in Wisconsin, with a population of 5.7 million. The improvement in the state’s tax collections ranked seventh in the nation during the 12 months ended in June, according to the Bloomberg Economic Evaluation of States.
The state had originally projected a surplus of $130 million as of mid-2015.
Bonds from Wisconsin issuers have gained 3.04 percent this year, trailing the 3.34 percent gain in the broad $3.7 trillion municipal market, according to Standard & Poor’s Dow Jones Indices.