Walker to delay $101 million in debt payments

Walker to delay $101 million in debt payments
Posted at 3:41 PM, May 10, 2016

MADISON, Wis. (AP) -- Gov. Scott Walker's administration is delaying $101 million in debt payments to help with the state budget's bottom line.

The tactic has been used by Democratic and Republican governors for years as a short-term budget-balancing move.

A memo by the nonpartisan Legislative Fiscal Bureau released Tuesday shows that Walker is skipping $50 million in debt payments. But Walker administration spokeswoman Laurel Patrick says since the memo was written the governor has decided to delay twice as much, $101 million.

The Fiscal Bureau was working on an updated estimate on how much the move would cost the state in interest.

Democrats blasted the latest move. State Rep. Gordon Hintz calls it an embarrassment and says it's a sign the state can't afford tax cuts approved in the last budget.