The state is facing a nearly $137 million shortfall in the current budget that ends on June 30th and Governor Walker is proposing a budget repair measure that he says could close that gap. Senator Mike Ellis says part of the governor’s plan calls for having state employees pay for more of their health insurance and pension and finding $20 million in savings from Senior Care.
But the Neenah Republican says that’s not where most of the money is coming from. “He’s going to refinance some of our debt and as a result of the refinancing he’ll pick up about $140 million to $160 million. And that’s probably the biggest single thing he’s planning on doing to resolve this $136 million problem.”
Ellis says the state also owes the state’s patient’s compensation fund $200 million because of a previous budget raid — plus interest. He says it will likely be paid back in the next budget.
AUDIO: Ellis on refinancing :20
Rick Schuh, WHBY
