(WFRV) – Wisconsin Governor Tony Evers has announced a projected surplus for the state.

According to a statement, projections from the nonpartisan Legislative Fiscal Bureau show the state’s General Fund balance will have a $3.8 billion surplus at the end of the 2021-2023 biennium. The surplus is nearly $2.9 billion more than what was expected in June of 2021.

“I’m proud of our efforts to make smart decisions with taxpayer dollars, get folks back to work, and keep more money in Wisconsinites’ pockets,” said Gov. Evers, “These unprecedented revenue projections are great news for our state on top of reaching record-low unemployment and having the fewest number of people unemployed in our state’s history.”

Republican legislative leaders said Tuesday the money would go toward tax cuts in the next budget that is being written in 2023.

The Associated Press contributed to this story.