MADISON – Governor Doyle, joined by Legislative leaders, today laid out priorities for addressing the state budget deficit, as Wisconsin is facing an additional $1.6 billion budget shortfall in the midst of the national economic crisis.
“My priorities in addressing this historic budget deficit are clear – first, I am not proposing any new taxes,” Governor Doyle said. “Second, we must make deep cuts to state government spending. Third, we must preserve our essential services such as education and public safety.”
Governor Doyle is taking responsible steps under these extraordinary circumstances to address the budget problem. A chart that outlines the framework for addressing the budget deficit follows.
|
|
Reduction to Deficit |
|
Cuts to Agencies, Shared Revenue and Aids |
$ 669.7 Million |
|
Furloughs and Rollbacks of 2% Raise |
$ 224.0 Million |
|
Medicaid / Hospital Assessment Re-estimate |
$ 165.0 Million |
|
Redeployment of 911 Fee to Support Police and Fire Protection |
$ 100 Million |
|
Maintain Current Levels of Tax Credits / Improved Tax Collections / IRC Update Modifications |
$ 185.2 Million |
|
Debt Restructuring / Lower Interest Rates |
$ 285.0 Million |
|
|
|
|
Total Reduction to Deficit |
$ 1.629 Billion |
