First Speech, Then Budget

New Wisconsin Gov. Scott Walker will deliver his state of the state address Jan. 25, ahead of the anticipated release of a new two-year state budget next month.

Wisconsin is facing a $3.3 billion ­deficit going into the next biennium. Walker last week unveiled eight bills he is pressing lawmakers to pass during a special session that began Monday.

Several of the bills provide tax breaks for businesses designed to promote ­hiring.

One bill would require a three-fifths majority vote by the Legislature to approve any increase in the state’s 5% sales tax, the corporate and franchise tax of 7.9%, and the individual income tax that ranges from 4.6% to 7.75%.

The super-majority vote would not be needed if the Legislature passed a joint resolution asking voters in a statewide advisory referendum to approve an increase, according to a review by the Legislative Fiscal Bureau.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER