FOR IMMEDIATE RELEASE
July 28, 2015
Contact: Rep. Steineke: 608-266-2418 or
Rep. Nygren: 608-266-2343
Rep. Jim Steineke and Rep. John Nygren Joint Statement on Bucks Arena Vote
Madison . . . Assembly Majority Leader Jim Steineke (R – Kaukauna) and State Representative John Nygren (R – Marinette) released the following statement in response to the Wisconsin State Assembly passing Senate Bill (SB) 209, the Milwaukee Bucks arena proposal, on a 52-34 vote.
“After many months of negotiations, the state has finally passed legislation to keep the Milwaukee Bucks in Wisconsin. This vote represents the best interest of taxpayers because it allows the state to continue to benefit from the Buck's income tax revenue.
“If we had not passed this bill, the state would have lost at least $130 million in income tax revenue over 20 years. Instead, with the passage of this bill, the state will continue to receive the $6.5 million a year in income taxes we're currently getting, with the potential for revenues to grow to almost $12 million a year in 20 years.
“These are revenues that will help to fund our priorities for years to come, such as our education system, healthcare, and job training. Taxpayers should also know that they are protected if the team leaves the state, thanks to a claw back provision that allows the state to recoup any money already spent should the Bucks leave before the twenty years are up.
“Investing state money in a sports facility is not a new concept in Wisconsin. In 2003, the state contributed millions of dollars for the renovation of Lambeau Field. This investment by the state has proved to be a financial success. It’s clear that we’ll see a similar level of economic benefit thanks to our investment in the Bucks arena.
“Keeping the Milwaukee Bucks in Wisconsin is a huge win for taxpayers, the city of Milwaukee, and our entire state. We’re pleased to see that SB 209 received broad bi-partisan support, and we look forward to seeing the economic benefits in the future.”