Wisconsin Gov. Opposes Raid on Tobacco Funds May 31, 2007
Funding Tips & Trends
Wisconsin Gov. Jim Doyle has criticized the state's 2001 decision to sell off its share of the nationwide tobacco settlement and is threatening a veto if lawmakers try to raid the remaining tobacco funds, the Associated Press reported May 24.
Doyle said he will veto the entire state budget if lawmakers try to use the tobacco fund for anything other than antismoking programs. Moreover, he wants to refinance the bonds generated by the 2001 sale and spend about $30 million annually on tobacco-prevention programs.
Under former Gov. Scott McCallum, Wisconsin sold off its $5.9 billion in expected tobacco-settlement payments in exchange for a one-time payout of $1.6 billion.