Friday October 19, 2018

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Speed and Secrecy in Lawmaking PDF Print E-mail
News
Written by Kathleen Vinehout, State Senator 31st District   
Wednesday, 12 September 2018 01:40

wisconsin_senateThe tactics used by Majority Party leadership to rush bills through the Legislature sacrificed public input and prevented thoughtful debate in the lawmaking process.

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Mount Pleasant Bond Rating Downgraded PDF Print E-mail
News
Written by Democratic Party of Wisconsin, Courtney Beyer   
Monday, 10 September 2018 20:49

foxconn-mount-pleasantMoody’s Credit Agency has downgraded town's credit rating after it borrows millions to support the construction of Foxconn's $10 billion factory.


MOUNT PLEASANT, WI - The Daily Reporter reported that Moody’s Credit Agency has downgraded this small Wisconsin town's credit rating. The reasoning? Foxconn.  

From the report:

Mount Pleasant's millions in borrowing to support the construction of Foxconn Technology Group's $10 billion factory there have led to a one-notch downgrade in the village's credit rating over fears that the massive factory may not produce the economic benefits officials had promised.

And here is Moody’s analysis.

The downgrade to Aa3 largely reflects current and anticipated growth in the village's direct debt burden and likely growth in its overlapping debt burden tied to borrowing in support of the Foxconn developmentThe rating also incorporates additional risks associated with the project including the uncertainty of enforceability of guarantee provisions in the event of a breach of development obligations.

The experts agree: the Foxconn deal is on shaky ground and that is bad news for taxpayers.

 
Frostman, Hansen Call on DOT to Explain Missing Road Funds PDF Print E-mail
News
Written by State Senate Democrats   
Monday, 10 September 2018 20:01

construction-trafficArea Senators want State DOT to explain where $46 million in federal transportation dollars granted for local governments has gone.

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Walker’s Corrections Mismanagement Costing Taxpayers $20.6 MILLION PDF Print E-mail
News
Written by Democratic Party of Wisconsin, Courtney Beyer   
Monday, 10 September 2018 19:51

boy-in-docMILWAUKEE, WI - A new report last Thursday from the Milwaukee Journal Sentinel shows that taxpayers have already shelled out $20.6 million to cover the legal bills surrounding Scott Walker’s mismanagement of the state’s juvenile prison complex.

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