Wisconsin

Wisconsin would divert future growth in income taxes paid by Milwaukee Bucks players and visiting teams to repay $220 million in state appropriation-backed borrowing to help finance a new professional basketball arena under a plan Gov. Scott Walker will include in his new budget.

Wisconsin must close a $283 million gap this year and erase another $648 million more of red ink in following two years to keep its books balanced, according to the latest revenue forecast that will guide the crafting of a new two year spending plan.

Wisconsin Gov. Scott Walker touted tax cuts, the state's structural fiscal strides, and pledged to cuts costs by merging some agencies in a state of the state address that offering no additional specifics on how he plans to erase a looming budget deficit.

Menasha, Wisconsin, which fell into junk bond status after defaulting on notes tied to a power plant conversion project that went awry, has won back its investment grade rating from Moody's Investors Service.

Wisconsin faces an $824 million shortfall to meet baseline costs anticipated in the next two year budget, according to a report from the Legislative Fiscal Bureau.

The Wisconsin Supreme Court overturned a lower court ruling and upheld Milwaukee County's 2010 cuts to nurses' pension benefits.

Moody's Investors Service has revised Wisconsin-based ProHealth Care Inc.'s outlook to negative after several years of softening operating results.

A task force examining the needs and funding options for Milwaukee's cultural institutions is floating a sales tax hike to fund capital improvements for regional attractions with the notable exceptions of a new arena for the Milwaukee Bucks and convention center expansion.

Wisconsin faces a $2.2 billion gap headed into the next two-year budget cycle, up $400 million from previous estimates.

Wisconsin could win an upgrade if recent budgetary and liquidity strides remain on course and result in a stronger balance sheet and reserves, Moody's Investors Service said in shifting the state's general obligation outlook to positive.

Annual income taxes Wisconsin receives from Milwaukee Bucks basketball players and team employees would cover repayment of $150 million of 20-year state general obligation backed bonds for a new stadium, according to the nonpartisan Legislative Fiscal Bureau.

The Wisconsin Department of Transportation proposed a series of tax and fee hikes to raise $750 million over the next two years to address a funding gap.

Springfield, Ill.-based Hospital Sisters Services Inc. will refund $180 million of bonds Wednesday shedding some of its floating rate exposure.

Midwestern voters head to the polls Tuesday to decide the fate of a handful of finance-related ballot questions and the leadership of eight states, including several where debate over fiscal pressures is taking center stage.

Wisconsin will refund $132 million of transportation revenue bonds on Thursday, two days after state voters cast a decision on a proposed constitutional amendment that would bar future raids on the state's transportation fund for other expenses.

Wisconsin and its local governments face relatively low levels of fiscal pressure with a stable outlook due to distinct traits that aid in the maintenance of their health, Moody's Investors Service writes in a special report published Tuesday.

Wisconsin's Mercy Health System and Illinois' Rockford Health System plan to join forces as soon as December pending regulatory approval.

Wisconsin closed out its last fiscal year with a $517 million undesignated ending balance, the Department of Administration reported Wednesday in the state's annual fiscal report for fiscal 2014.

Wisconsin voters will vote next month on whether to amend the state constitution to ban the diversion of transportation fund revenues for other expenses.

Milwaukee will take competitive bids Wednesday on $125 million of revenue anticipation notes for the city's public school system.