Walker to delay $100 million in debt payments to deal with short - WAOW - Newsline 9, Wausau News, Weather, Sports

Walker to delay $100 million in debt payments to deal with shortfall

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MADISON, Wis. (AP) -

MADISON, Wis. (AP) -- Gov. Scott Walker's administration plans to skip $100 million in debt payments this May to help deal with a budget shortfall.

The Milwaukee Journal Sentinel reported Tuesday on a memo from the nonpartisan Legislative Fiscal Bureau that discussed the plan. The tactic has been used by Democratic and Republican governors for years as a short-term budget-balancing move.

Since 2011, more than $1.5 billion such payments have been delayed.

Delaying the $108 million payment helps avoid the need for a special bill in the Legislature to balance the budget that ends on June 30. That could be an unwanted distraction for Walker as he ramps up efforts for a likely 2016 presidential run.

The accounting move will require higher principal and interest payments in coming years.

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