MADISON, Wis. (AP) — There would be no new tax on oil companies and no drivers cards for illegal immigrants under a budget deal crafted by Democrats and to be voted on by a special bipartisan committee of lawmakers.
The deal reached behind closed doors attempts to resolve major differences between the two budgets passed by the Senate and Assembly, which are both controlled by Democrats.
Under the deal released Thursday night, taxes would be raised on capital gains, but not as much as Senate Democrats wanted. Under their budget, there would be no exemptions. But under the deal 30 percent of capital gains would be taxed instead of the current 60 percent.
Once the conference committee approves the agreement, the state Senate plans to vote on it later Thursday. The Assembly could take it up as early as Friday.
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