Milwaukee's pension crisis: Here's what to know

The Wisconsin Assembly is on the floor debating a bill that could dramatically help Milwaukee's financial budget problems.

Around 5 p.m. Wednesday, Republican Speaker Robin Vos said they struck a deal after tense negotiations that Rep. Bob Donovan said at times, wasn't pretty.

The bill would increase shared revenue, money that the state gives back to the city, and for the first time allow the city to raise the sales tax. That money could be used to offset future pension obligations.

Milwaukee Mayor Cavalier Johnson warned lawmakers last week the city will not be able to fund outstanding pension liabilities by 2025 without help.

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