DOYLE'S BUDGET WOULD REQUIRE $1 BILLION IN BORROWING
Friday, February 25th, 2005 -- 9:23 AM
Gov. Jim Doyle's state budget proposal includes more than $1 billion in new borrowing.Doyle's budget plan for the two-year period that ends June 30, 2007, calls for issuing $1.06 billion in new bonds, including $670 million for major highway projects and rehabilitation and $130 million for the state's Medicaid program, according to the report from the Legislative Fiscal Bureau.
The state is grappling with a $1.6 billion shortfall in the budget brought on because spending requests outpace projected revenue. State Sen. Scott Jensen, R-Waukesha, a member of the legislative Joint Finance Committee, called the Democratic governor's proposed borrowing irresponsible.
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