Wisconsin expects revenue collections in the next biennium beginning in July to grow by $1.5 billion above this biennium’s collections. The state expects to close out the current biennium June 30 with a balance of $342 million.

The review came from Gov. Scott Walker’s Department of Administration Secretary Mike Huebsch, who in a letter to lawmakers highlighted the state’s achievement of moving close to a structurally balanced budget after dealing with a $3.6 billion deficit in 2011.

Huebsch warned that the state’s economy could suffer a setback if Congress and administration don’t resolve the “fiscal cliff.”

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