Wednesday, March 26, 2014

$688 million in borrowing for $500 million in tax cuts?

I noticed this as well, but I'll direct you to Lou Kaye's Rock Netroots Blog that mentions the $688 million in debt that the state of Wisconsin issued earlier this month. $394 million will pay for highway projects and other DOT work, and $294 million is to refinance some General Fund debt and kick the payments into future years.

And this borrowing isn't even going to pay for our most immediate needs in the state- PLOWING AND FIXING THE ROADS after this brutal winter (which isn't over yet, looks like another 6 inches up North in the next 2 days). Just last week, WisDOT sent out a radio news release mentioning that there needs to be more repairs than normal in the coming months.
The state’s seen a 60 percent increase in the number of winter storm events compared to an average winter season. WisDOT officials encourage drivers to report potholes to their local or county highway department, but also understand there are plenty of holes to be filled and repairs likely won’t happen overnight. Crews are busy patching pavement and will continue to be as long as there’s a break from snow and ice. Permanent repairs will come once the weather warms up. Drivers are reminded to slow down for work crews and change lanes when possible; it’s all part of Wisconsin’s move over law.
So did we decide to use some of our one-time surplus to help pay for these extraordinary expenses, or cut down on our borrowing because the repairs take priority? Of course not! The only thing we're doing is putting in another $43 million to speed up a couple of state highway projects this Summer, but an amendment to add funds to help local governments pay for repairs got shot down.

Instead of choosing to reduce some of this borrowing or get the roads fixed, our fair Governor decided to fly 200 miles to Cecil, Wisconsin to sign into law a $500 million tax cut, hamstringing the chances of taking future action to catch up to the backlog in road maintenance and other local services that will certainly result from this Polar Vortex Winter.

Quite the Bush-like priorities and policies, aren't they? Fiscal conservative MY ASS!

No comments:

Post a Comment