The JFC-approved budget would increase taxes and fees $2.1 billion with another $132.1 million in additional revenue expected through "enhanced collection measures," according to the Legislative Fiscal Bureau.

LFB compiled the analysis at the request of multiple lawmakers.

The biggest proposed tax hikes include the oil franchise fee, the hospital assessment, the cigarette tax, the reduction in the capital gains exclusion and the new tax bracket for individuals making $225,000 a year and couples making $300,000 annually.

See the memo here.

LFB also projects the state would have a structural deficit of almost $2.3 billion heading into the 2011-13 budget, under the JFC proposal.

That's up from the estimated $1.6 billion structural deficit under Gov. Jim Doyle's proposal from February, prior to the deficit exploding to $6.6 billion.

By comparison, LFB noted the largest structural deficit of the past decade was the almost $2.9 billion shortfall going into the 2003-05 biennium.

See the memo here.

In addition, LFB has a new breakdown of the shared revenue cuts each municipality faces under the JFC budget.

Generally, more affluent areas of the state face the largest cuts as a percentage of the aid they receive, with many of them looking at a reduction of 15 percent.

For example, Madison would lose $1.1 million, a cut of 15 percent of the aid it now receives, while Milwaukee would lose $2.6 million of the $229.9 million it received for 2009 under current law, a reduction of 1.1 percent.

See the breakdown here.

-- By WisPolitics staff