GOP Sen. Kanavas is railing against the Senate Dems plan to eliminate the capital gains exclusion, saying it will kill business and investment.

He said this budget will have ripple effects for years, and two years from now the state's fiscal situation will be even worse.

"People will invest. They just won't do it here," Kanavas said.

UPDATE: 5:20 p.m. -- GOP Sen. Darling just finished a stemwinder, saying that Dems are misleading the public by saying this budget protects middle class families.

"This (budget) is a job killer. It's a Wisconsin killer," she said.

Dem Sen. Hansen's response: "It is a terrible budget. There are a lot of people hurt here. But where is your plan?"

-- By Greg Bump