Madison projects a $20 million surplus post tax increase referendum
Critics, including former Madison mayor Paul Soglin, urged residents to vote against the $22 million tax referendum before the November election. Soglin suggested using the rainy day fund to close the gap in 2025 while lobbying for more funds. He reiterated this call, stating last year’s surplus and this year’s could have averted the referendum through 2026.
Approximately 57% of Madison voters approved the referendum, with stronger support from central residents.
Schmiedicke emphasized the budgetary benefits of using manageable amounts of rainy day funds annually rather than a large lump sum.
