Posted on 09/16/2017 6:40:10 PM PDT by UB355
MADISON – The Assembly on Thursday sent Scott Walker a multibillion-dollar subsidy package for a Taiwanese company, putting within reach the governor's bid to site a massive flat-screen plant in Racine County.
The bill passed 64-31, with all but two Republicans voting for it and being joined by Democratic Reps. Cory Mason of Racine, Jason Fields of Milwaukee and Peter Barca and Tod Ohnstad of Kenosha.
(Excerpt) Read more at jsonline.com ...
how did you beat 2ndDV to this one? impressive.
I think Walker will make some partial vetoes to it (WI Governor is one of the most powerful Governor positions in the nation). Probably reduce the subsidy some. We don’t have $3 billion lying around under the state’s mattress.
Nothing like using other businesses tax dollars to bribe bigger businesses.
They are not pure subsidies, they are incentives based upon employment levels reached by Foxconn. Milwaukee Journal and the rest of the libs keep talking the project down because it is a huge win by Gov Walker.
Depends on what the $3 billion is. If its just reduction of future taxes, it doesn’t cost them anything really.
So Trump greases Ryan, Walker, and Priebus and the effing State of Wisconsin in exchange for NOTHING in terms of advancing the RIGHT WING AGENDA in the USA.
More jobs for Wisconsinites.
Not what I signed up for.
Wisconsin elected Trump preventing Hillary winning. Plenty for us.
All jobs in the US are good jobs, especially middle class jobs. This deal was done months ago, anyway. Just finally passed.
Corporate Welfare is terrible misuse of legal plunder.
Kidding aside, let's hope this brings prosperity to Wisconsin, and that it does indeed employ 13,000 workers.
Meanwhile, who pays for all the highway improvements needed to accommodate the additional traffic?
And what happens, when, at the end of the tax deferral period, the company threatens to relocate to NC or TX?
Another tax-free period?
All good points.
Wisconsin has come through and deserves this.
Going forward, different story.
Option 1) NO tax income, no jobs, no nothing. The business moves to South Carolina and WI gets NADA.
Option 2) They (Foxconn) pay no state income tax at the business level for 15 years BUT all their employees, contractors, contractors companies pay state and local income taxes. Those employees/companies also buy a ton of stuff from other local companies spurring local GDP. They hire thousands of people and create jobs for 10s of 1000s.
I do understand.
Pennsylvania is filled with KOZ (Keystone Opportunity Zones) and other tax-free incentives. Sounds great at first, but all other taxpayers are on the hook for the infrastructure improvements.
At the end of the 10 year tax free (or unimproved land-only tax assessment) the company typically threatens to relocate to NC. The politicians then grant another tax-free period or some other “incentive” (read: BRIBE) to get them to stay.
I’d rather read that Wisconsin planned to incentivize an American contract manufacturer instead.
Even the Japanese are selling off their factories. Sharp sold their factories that make the LCD Mylar used in TVs and commercial displays to Foxconn in 2016. Foxconn soon laid off 3/4 of all Japanese factory managers, and a shortage developed very quickly since yields were way off.
Foxconn is (or was) a Taiwanese company but I do not know who is in day to day control, Taipei or Beijing. Either way, it sure isn't an American.
Ah, all for the all-mighty $$$. While every OTHER biz in the State can take a long fark off a short pier....
Here’s an idea Walker: Drop the govt presence/choke-hold on ALL and make it unadventurous for not only NEW biz, but existing and future consideration.
As a current biz owner in the State, I’d think about the treatment of govt (because Foxconn MAY provide X% MORE taxes).
The infrastructure improvements, as you put them, are based on YOU and like-minded spending money before you have the money. But you still aren’t doing a good job of grasping the situation. It’s either 0 or greater than 0. You can debate what the > 0 is, but its either 0 (they locate elsewhere) or > 0 (they locate in your state).
An inconvenient truth...
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