The Governor hopes to grow Wisconsin's economy, despite difficult economic times in the state and the nation.
Speaking to Wisconsin's largest business group at "Business Day in Madison" at the Monona Terrace, Governor Jim Doyle says, despite a looming recession, we must move forward and stay true to some basic values.
"We can't crawl under a rock; we can't get into bed and go the difficult times pass. This is time for us to make major investment, smart investment."
The governor tells the Wisconsin Manufacturers and Commerce that he wants to give tax credits to Wisconsin companies for their investment in research and development and invest money in advancements in renewable energy. As the state looks to close the $650-million shortfall in its current budget, Doyle is adamant about not raising taxes, but wants to re-visit a hospital assessment. That controversial tax would bring the state $450-million in federal Medicaid reimbursement funds each biennium.
"To me it's just nonsensical that you just walk away from $450-million of federal money.
The hospital assessment would generate $125-million to help plug the budget hole by reducing the amount of GPR needed for Medicaid, and hospitals would be reimbursed. Also, Doyle had called for $200-million in cuts from state agencies to tighten the budget gap, and has recently imposed another $110-million in cuts on those same agencies, and ordered a reduction in travel expenses. Even though the legislative session ends next month, the governor is confident this fix could be accomplished by the end of the session.