Republican Gov. Scott Walker promised Thursday that his next executive budget will slash income taxes, but he called those cuts just a “down payment” on future ones he hopes to phase in as the Wisconsin economy grows.

Walker told reporters following a speech at a Wisconsin Bankers Association economic forecast luncheon he’ll include what he called a “significant” income tax cut in the spending plan. In his remarks to the association he called the cut a “down payment,” telling reporters later he’d like to return more money to consumers as the economy expands.

“It’s incredibly important for us to continue our economic growth in the state, and because of our tough decisions in the last few years we’re going to be in a position to do that,” the governor said.