Stimulus to include combined reporting, job creation initiatives, sources say
A state stimulus package to be released later today is expected to include a new assessment on hospital revenues, combined reporting for corporate taxes and a provision giving lawmakers some oversight of any federal money flowing into the state to jumpstart the economy.
The governor and legislative leaders scheduled a 1:30 p.m. news conference today to announce details of the plan. Some final language was being worked out this morning.
Gov. Jim Doyle and lawmakers have been working on a state bill that would complement the pending federal stimulus package, streamline processes for moving federal money into state projects and include job creation efforts and the expansion of angel investor tax credits.
Also expected in the package is the streamlined sales tax proposal to allow the state to capture taxes from online purchases, and language to reverse the Menasha Corp. Supreme Court decision on taxing specialized computer software, sources said.
Sources expected the stimulus package to include across-the-board cuts to state agencies, adding the plan would either eliminate or come close to eliminating the projected $594 million budget deficit in this fiscal year. Funding for job training programs and some infrastructure projects are also expected, as well as language to stem the rising tide of foreclosures in Wisconsin, sources said.
