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Assembly Passes Part of Doyle Plan for Economy

By: Associated Press
By: Associated Press

MADISON, Wis. (AP) -- The state Assembly came through with favorable votes Tuesday night on part of Governor Jim Doyle's economic development proposal for Wisconsin.

That vote came hours after Doyle told a Madison meeting of business executives that the economic plan is one of his top priorities this year despite a $540 million budget shortfall.

Three pieces of Doyle's plan passed Tuesday night in the Assembly.

One that passed without debate would eliminate state taxes on capital gains up to $10 million if the money is reinvested in qualifying Wisconsin businesses.

Two other bills that passed would provide tax breaks for meat processing facilities and members of dairy cooperatives that modernize or expand.

The Senate hasn't voted on the plan.

Senate Democrats broke with the governor to propose their own economic development package.

But even though the Legislature will wrap up for the year within three weeks, Doyle says there's plenty of time for his proposals to pass.


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