Foxconn, Redux: More Corporate Giveaways
Bad bill made worse
MADISON – Today, the State Assembly passed Governor Walker’s Foxconn legislation, Special Session Assembly Bill 1. The bill authorizes up to $2.85 billion in cash payments to Foxconn, a Taiwanese electronics manufacturer, as well as provides them with special exemptions from significant environmental protections, discounted electricity rates, and even a special court process. The Assembly took up the bill almost a month ago for the first time, but additional amendments were added to the bill by the legislature’s Joint Finance Committee and the State Senate. After once again vigorously arguing against this giveaway and voting “no,” Rep. Chris Taylor (D-Madison) released the following statement:
“This Foxconn scheme is just another Republican corporate giveaway that’s rigged against Wisconsin working families. If Republicans truly wanted to create jobs, they would invest in our public schools and our UW System, in our local businesses and in our transportation system. Instead, over the last six years, they’ve put forth several schemes centered on tax breaks for millionaires and cutting middle income wages, which has failed to jump start our sluggish economy, failed to raise wages, and failed to grow jobs. Enter Foxconn and this $3 billion boondoogle, which, under the best of circumstances, will take at least 25 years to recoup.
“This deal reeks of desperation, by a desperate Governor as he runs for re-election and tries to hide behind the false promises of Foxconn to avoid facing the reality that he’s failed to create an economy that works for everyone, not just those at the top.”