Skip to Content, Navigation, or Footer.
The Daily Cardinal Est. 1892
Tuesday, November 26, 2024

Democrats block GOP constitutional amendment for 'rainy day' fund

Assembly Democrats blocked Republicans' attempt to pass a constitutional amendment that would create spending restraints and push state revenues into a rainy day fund if tax collections exceed certain benchmarks.

The amendment would create a fund that could only be accessed during a fiscal emergency or recession with approval from two-thirds of the state Legislature. It would also require state tax collections in excess of 6.5 percent of statewide personal incomes be deposited into a special fund.

However, state Rep. Tony Staskunas, D-West Allis, said the bill was ""written very poorly"" because it requires money contributions at a time when the government is cutting aid to school districts.

Enjoy what you're reading? Get content from The Daily Cardinal delivered to your inbox

The objection delays a vote on the bill until the next session after the next scheduled floor day, which would push a vote until May 10.  To become a law, it would need to be passed in this next session and approved by voters.

State Assembly Speaker Jeff Fitzgerald, R-Horicon, defended the bill as something that could help prevent cuts to essentials, like education, in the future.

""This is a common sense approach, it's a fresh, and it's something I think this state is clamoring for,"" Fitzgerald said.

Democrats also blocked legislation on bear hunting licensing.

Support your local paper
Donate Today
The Daily Cardinal has been covering the University and Madison community since 1892. Please consider giving today.

Powered by SNworks Solutions by The State News
All Content © 2024 The Daily Cardinal