Gov. Scott Walker says Wisconsin will not proceed with implementing the federal health care overhaul despite the U.S. Supreme Court upholding the central part of the federal law.

Walker said Thursday he would have preferred the court strike down the law, but he is holding out hope that a new president and Republican-controlled Congress will overturn it next year. In the meantime, Walker says the state will not proceed with setting up a health care exchange as is required.

Walker says the law will be a "massive tax increase on the people of Wisconsin and America."

He says the decision creates uncertainty for Wisconsin businesses and that's bad for job growth. Walker has also said businesses will be bullish about adding jobs since he won a June 5 recall election.