Budget deal which would include $400M in transportation borrowing is in the works

WISCONSIN (CBS 58) - Governor Scott Walker said the overdue state budget will move through the legislature with the Foxconn Incentives bill.

Walker said that he and Republicans have reached a deal "in principle" over transportation funding to end the impasse. The deal does not include any gas tax or vehicle registration fee increases but it would impose a new fee on electric vehicles and $400m in borrowing to pay for roads.

Walker also says there will be a reduction in the personal property tax. He adds that the tentative deal should be approved by the legislature's Budget Committee sometime in the next two weeks.