Avatar
All Posts by Empower Wisconsin

Is PFA S.O.L? Lawmakers call for audit of questionable Finance Authority

Empower Wisconsin | Oct. 10, 2019 

By Bill Osmulski, MacIver News Service

MADISON — State lawmakers are demanding an audit of Wisconsin’s Public Finance Authority (PFA) following a report in the Wall Street Journal that the quasi-government entity is responsible for selling the riskiest municipal bonds in the country.

“The article raises serious questions about the integrity and practices of an organization created by the legislature,” a group of 17 lawmakers stated in a letter to the Joint Legislative Audit Committee earlier this week. 

Joint Audit Committee Co-Chair Sen. Rob Cowles (R-Green Bay) says he’s all on board with auditing the PFA.
“It needs to be looked at, especially with the concerns over the defaults,” Cowles told MacIver News on Monday. “This is a high priority for me to do this.”

The Wall Street Journal piece asserts, “Wisconsin has long been famous for its lakes and cheese. Now it is becoming known for risky debt.” 

“Wisconsin is home to the Public Finance Authority, an agency that has issued billions of dollars in tax-exempt debt across the U.S. for projects ranging from senior-living communities to student housing. Many projects claim no direct economic ties to Wisconsin,” the article notes. 

Make that, most projects claim no direct economic ties to Wisconsin. 

MacIver News Service has reported extensively on the PFA over the past two years, including a story last yearthat Gov. Tony Evers has two items in his statement of economic interests indicating he has investments through the PFA.

Read more from MacIver News Service here 

Listen to more:

Explore More
Unmasking Joe Biden

Unmasking Joe Biden

Empower Wisconsin | Nov. 27, 2020 Tens of millions of people voted for a candidate who wasn’t real.  After all…

Read More »

November 27, 2020
Evers’ scandal-plagued tourism chief steps down

Evers’ scandal-plagued tourism chief steps down

Gov. Tony Evers’ controversial tourism chief is stepping down after two rocky years at the helm of a nonpartisan agency she infused with a liberal agenda.  

Read More »

November 27, 2020
Steil seeks answers on COVID deaths at state Veterans Home

Steil seeks answers on COVID deaths at state Veterans Home

State Veterans care officials declined U.S. Department of Veterans Affairs assistance in late May, more than two months before a COVID-19 outbreak struck the Wisconsin State Veterans Home at Union Grove and killed nine residents.

Read More »

November 26, 2020
BLM paints Burlington racist

BLM paints Burlington racist

The Burlington Area School District has experienced incidents of racism, but the small industrial city in southeast Wisconsin isn’t a racist community. 

Read More »

November 26, 2020
Crueler than COVID: Forcing the sick and elderly to die alone

Crueler than COVID: Forcing the sick and elderly to die alone

With a new wave of COVID-19 lockdowns beginning, however, I feel compelled to share our story because that journey convinces me that we, as a nation, are subjecting the dying to physical and psychological torture in the name of fighting a pandemic.

Read More »

November 26, 2020
Giving Thanks

Giving Thanks

From our family to yours, Happy Thanksgiving from your friends at Empower Wisconsin.

Read More »

November 25, 2020
Leave a Comment

Your email address will not be published. Required fields are marked *