Budget Bill Signed

It's official. Gov. Scott McCallum has signed the budget repair bill into law.

To plug a billion dollar hole, the measure largely uses proceeds from the state's tobacco settlement.

After months of debate, the state finally has a balanced budget for the fiscal year that's underway.

With the stroke of a pen, Gov. McCallum made it official. The measure takes some $800-million in tobacco settlement proceeds to make up the difference.

It also leads to across the board cuts to state agencies, including a $44-million reduction in spending for the University system.

A controversial Campaign finance reform initiative is part of the package, but critics don't think it will work.

The governor says while this repair measure isn't perfect, it does the job.

"You've got to make some tough decisions for the state to move forwards, to make a stronger economy in the future," said Gov. Scott McCallum, (R) Wisconsin.

"One of the problems in this budgets ... delays ... delays all along," said Rep. Spencer Black, (D) Minority Leader.

The governor also wants to call the Legislature into Special Session. He'd like law-makers to create a protected rainy day savings account to guard against future deficits.

Of course, this bill will also be remembered for what's not in it, the governor vetoing a number of policy items including a provision that would have allowed the city of Madison to annex the Town of Madison.