After months of negotiations, Assembly and Senate leaders emerged Monday with an agreement on how to repair the state budget. Assembly Speaker Mike Huebsch (R-West Salem) says it will close a $527million hole in the current state budget and prevent government from operating a deficit.
The deal delays $125 million in school aid payments and takes $97 million out of state reserves. Senate Majority Leader Russ Decker (D-Weston) says it also calls for additional spending cuts of about $69 million and closes two corporate tax loopholes. It also transfers DOT funds from money set aside to meet a federal mandate on Real ID.
The measure does not include a proposed hospital assessment, which Democrats and the Governor have argued is needed to recapture federal Medicaid dollars. It also does not include the Great Lakes Compact, which will be taken up seperately.
The bill is expected to face some opposition in the Republican-controlled Assembly, but minority leader Jim Kreuser (D-Kenosha) says Democrats will help bring the votes needed to pass it.
Legislative leaders say the hope to have the budget repair bill passes
Swift action is expected as well, with passage due by the end of this week.
AUDIO: Andrew Beckett reports (MP3 1:00)
