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Dane County wants $50 billion from feds for bailout

River Falls,Wisconsin 54022
Hudson Star Observer
Dane County wants $50 billion from feds for bailout
River Falls Wisconsin 2815 Prairie Drive / P.O. Box 25 54022

Dane County Executive Kathleen Falk has asked President-elect Barack Obama to loan $50 billion of the Wall Street bailout money to local governments.

She says the credit crunch has made it almost impossible for communities to borrow for the projects they need.

Falk said a 4 percent interest rate would help replenish the federal coffers eventually, while helping create vital community infrastructure that's now being delayed.

Falk and Milwaukee Mayor Tom Barrett have asked Obama for some of his proposed economic stimulus aid for various projects.

Gov. Jim Doyle says almost $4 billion of public works and building projects could begin Wednesday once the money to pay for them becomes available.