Just like the state of Hawaii wants to take the hotel room tax away from the counties and they want to take the extra 0.5% excise tax we raised for our planned rail project away from the city and later float bonds to pay it back. This will leave our city services in bind.
It is completely understandable to me that this is what they will do in Wisconsin.
http://www.jsonline.mobi/news/statepolitics/109998884.html?ua=iphone&dc=smart&c=yWisconsin’s budget troubles may worsen
By Jason Stein of the Journal Sentinel
Nov. 22, 2010 | (157) Comments
Madison — Already reeling from a projected deficit in its next budget starting in July, the state faces an even more immediate challenge - rising costs in several programs that could set up a shortfall for the current year ending in June, budget documents show.
That possible shortfall was not included in budget estimates released Friday but could easily top $100 million without action from either outgoing Gov. Jim Doyle or Governor-elect Scott Walker after he takes office January.
Any immediate shortfall would be in addition to the up to $3.3 billion deficit already projected for the 2011-'13 state budget. Plus, it could trigger a legal requirement for a budget repair bill early on in the Walker administration - a major potential distraction to the incoming Republican governor who must already deal with high unemployment and the next two-year budget.
A report released Friday by the Doyle administration showed the projected deficit for the 2011-'13 budget could rise as high as $3.3 billion. That amounts to up to 11% of the overall $29.23 billion being requested by state agencies for the two-year budget. To put it another way, the shortfall would be enough to pay the state's share of running the University of Wisconsin System and the Wisconsin Technical College System for two years and still have money to spare.