MADISON, Wis. (AP) — Two of Gov. Scott Walker’s priorities for the year are up for a public hearing before the Legislature’s budget-writing committee.
One measure would invest $50 million a year for rural economic development projects. The other would authorize the state to seek a federal waiver to offer a reinsurance program designed to reduce claims costs for insurers selling plans on the private market.
Reinsurance basically sets up a pool of money for the government to cover the cost of insurers’ most expensive cases.
The $50 million for economic development money is designed to stimulate private investment, improve productivity and fill open jobs in rural parts of the state.
The committee plans to vote on the measures Tuesday, setting them up for legislative approval later this month or next.