Gov. Jim Doyle signed the budget-adjustment bill, which will reduce the current budget deficit and cut state spending, at the state Capitol Thursday.
Doyle said the legislation will directly reduce the current state budget gap by $700 million and will cut $125 million in state spending.
He added the bill will create jobs by using $300 million of federal funds, modernize infrastructure and bring down health-care costs while expanding access.
This bill lays critical groundwork for getting our state's economy back on track,"" Doyle said. ""It creates a platform for federal stimulus dollars to work quickly and efficiently.""
The bill was just introduced Monday and passed Wednesday in the state Legislature without a single Republican vote in its favor.
Doyle said he is glad the Legislature moved quickly and did not waste time ""pointlessly"" deliberating.
""I really appreciate the fact that the Legislature was ready to act and act very expeditiously,"" Doyle said.
State Rep. Phil Montgomery, R-Green Bay, said Democrats passed the bill quickly to purposely keep people from examining it and realizing the negative impact it would have.
""This bill should be nominated for a Sundance Award '¦ because [it] was carefully choreographed to minimize the amount of news coverage that it got,"" Montgomery said.
The bill includes a number of tax increases, including a raise in taxes for corporations, which Montgomery said will constrain their budgets and give them no incentive to hire new employees.
""At the end of the day, what this bill did was kill jobs. It's just as simple as that,"" Montgomery said. ""The opportunities for UW graduates coming this May will be hurt by this bill.""
Doyle said the bill is fairly bipartisan and includes initiatives Republicans usually support, like making cuts in state government. He said it lacks Republican support because of the party's conscious decision not to cooperate.
""Everyone is going to have to have some faith that if we all work together '¦ we can get through this in a way that will make us stronger in the years ahead,"" Doyle said.
