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Panel Votes To Let State Loan Money To Businesses Again

Antigo, WI, United States /

(Madison, WI) ¬†— ¬†Wisconsin’s job creation agency could start lending tax dollars to businesses again, after lawmakers voted to restore the program in the new state budget. The Joint Finance Committee voted 12-4 Tuesday to bring back the loan program that was cut off two years ago amid problems that resulted in inadequate oversight and accountability for that money. With all Democrats voting no, Republicans also dropped a proposed requirement that the money to be loaned had to come from the paybacks of other business loans. Senate finance chair Alberta Darling says the Wisconsin Economic Development Corporation has improved its checks and balances during the past two years. Republicans dismissed several Democratic proposals to put restrictions on other WEDC tax credit and grant programs.

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