> To help close the state’s $283 million budget shortfall this year, Wisconsin Governor Scott Walker (R) plans to skip a $108 million debt payment scheduled for May.
> By missing the May payment, Walker will incur about $1.1 million in additional interest fees between 2015 and 2017. The $108 million debt will continue to live on the books; Walker’s budget proposal for 2015-2017 will pay down no more than about $18 million of the principal.
> In March last year, Walker signed a $541 million tax cut for both families and businesses. At that point, Wisconsin was facing a $1 billion budget surplus through June 2015, the Journal Sentinel reported.
http://www.washingtonpost.com/blogs/govbeat/wp/2015/02/18/sc...
> To help close the state’s $283 million budget shortfall this year, Wisconsin Governor Scott Walker (R) plans to skip a $108 million debt payment scheduled for May.
> By missing the May payment, Walker will incur about $1.1 million in additional interest fees between 2015 and 2017. The $108 million debt will continue to live on the books; Walker’s budget proposal for 2015-2017 will pay down no more than about $18 million of the principal.
> In March last year, Walker signed a $541 million tax cut for both families and businesses. At that point, Wisconsin was facing a $1 billion budget surplus through June 2015, the Journal Sentinel reported.