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New report on K-12 spending trends indicates WI is falling behind neighbors, nation

New report on K-12 spending trends indicates WI is falling behind neighbors, nation

The non-partisan Wisconsin Policy Forum today released a new report titled: “K-12 trends offer caution as tough budget choices loom.” Among the key findings is that while spending on public education nationwide from 2008 to 2018 increased by 23%, it grew only 15% in Wisconsin, placing us 38th in the country. This slower growth in spending is partly reflective of the decline in spending on fringe benefits for school staff post Act 10.

The report also notes that without a significant number of school districts having successfully passed referenda to increase educational spending Wisconsin would be ranked even lower.

The report speculates on what if any role these trends will play when policymakers begin state budget negotiations in the midst of a pandemic that has impacted the state’s economy.  You can see the full report here

Some concerning findings from the report: (more…)

Voluntary Payroll Tax Deferral Program available but not recommended

The President signed an executive order that was issued on August 8, 2020 that allows employers to participate in a voluntary program to defer withholding of the payroll tax attributable to social security (6.2%) on wages paid out between September 1 and December 31, 2020.

This voluntary program became effective yesterday (Sept. 1).

It is the WASB’s opinion that the employer has an option as to whether or not to opt into the program to defer the withholding and payment of the employee’s portion of the Social Security Tax.  Please see the information from the IRS that describes the guidance:

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