Republicans block measure by Assembly Democrats to require the WEDC to provide immediate answers to lawmakers and taxpayers regarding its risky loan activities, again selling out Wisconsin taxpayers to support Scott Walker’s personal presidential ambitions.

MADISON - Assembly Democrats voted on Tuesday to require that Gov. Walker’s Wisconsin Economic Development Corporation (WEDC) provide immediate answers to lawmakers and taxpayers regarding its risky loan activities. Assembly Republicans voted to deny the demand for WEDC to provide information to the legislature to avoid further fraud and abuse in its lending activities, despite bombshell media reports and a scathing nonpartisan audit revealing unsecured loans.

“While Gov. Walker misleads the public with his rhetoric that his jobs agency is providing ‘unfettered’ access to WEDC staff and information, WEDC continues to stonewall board members and legislators from receiving basic information about their risky loans,” Assembly Democratic Leader Rep. Peter Barca (D-Kenosha) said. “Our taxpayers deserve answers. It is irresponsible to not hold WEDC accountable for its loan portfolio and record-keeping activities.”

The resolution would have required the governor and WEDC to report to the legislature within seven days to provide full records and documentation on any unsecured loans, loans issued over concerns of underwriters, or loans where underwriting documentation is missing or was not complete.

Recent media reports that WEDC may have granted at least one loan – totaling $500,000 – as a favor to one of the governor’s campaign contributors, despite never even conducting a staff review of the loan recipient.

Rep. Barca and Sen. Julie Lassa (D-Stevens Point), the Democratic representatives on the WEDC Board, requested on May 21 key information regarding loan activity. They still have not received basic answers or records from WEDC and the staff refuses to meet with them. Instead, WEDC is pushing off any meetings with the Board members until late July, presumably after the state budget has passed.

“Assembly Democrats believe the taxpayers of Wisconsin deserve an explanation on potential ethical and criminal violations and the ongoing mismanagement of taxpayer funds at Gov. Walker’s WEDC,” Rep. Barca added. “There are many unanswered questions about WEDC’s activities and the potential for criminal involvement.”