Wisconsin

Municipal bond borrowing by Midwestern issuers picked up steam last year, rising by 6.9% to $63.5 billion as issuers loosened the reins a bit on new money borrowing and refundings recorded double-digit gains thanks to favorable interest rates.

Wisconsin will leave $108 million of low-interest commercial paper in place instead of paying off it off as planned in the current fiscal year, in a move that will provide near-term relief to help Gov. Scott Walker close a $283 million shortfall; critics call it a scoop and toss.

After years of contentious debate, construction is expected to soon begin on a starter streetcar system in downtown Milwaukee with the Common Council's approval of a $124 million capital budget for the 2.5 mile project.

Wisconsin Gov. Scott Walker's administration rejected a proposal pitched this week by the Menominee Tribe to cover $220 million in state funding for a new Milwaukee Bucks basketball arena in exchange for a new casino.

Wisconsin Gov. Scott Walker unveiled a $68.2 billion two-year budget proposal that favors borrowing over a higher gas tax to fund transportation projects, includes debt service for a new Milwaukee Bucks arena, and cuts University of Wisconsin aid.

Wisconsin is offering up more than $500 million of general obligation paper in the coming weeks, first in a $280 million new money issue selling Tuesday and then in a $260 million refunding slated for later in February.

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.