Madison, Wisconsin Projecting $20 Million Sales Tax Loss From Shutdowns

Local governments loss of sales tax revenue from just a few months of shutdowns is trickling in through data reports. Madison, Wisconsin(Dane County) is reporting some big potential losses.

To deal with uncertain economic times due to the coronavirus pandemic, the Dane County Executive is launching a voluntary furlough program and asking departments to decrease spending as they prepare their next budgets.

The voluntary furlough program will allow employees to sign up to take days off to help the county’s declining revenues. Parisi said sales tax collections could drop $20 million or more depending on future waves of the virus. Sales tax helps support funding for county programs.

Source: WMTV NBC15

 

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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