(MADISON) – Today, Governor Scott Walker announced the details of a deal to finance a new arena, which would keep the Milwaukee Bucks in Wisconsin while creating a state of the art mixed-use entertainment facility. The Joint Committee on Finance is expected to take up the plan in the coming weeks. After the announcement, ranking Senate Democrat on the committee, Sen. Lena Taylor (D-Milwaukee) released the following statement:
“The Milwaukee Bucks are part of the fabric not only of Milwaukee’s economy, but of Wisconsin’s as well. With over $700 million in player tax revenue collections over the next 32 years, keeping the Bucks in Milwaukee means big bucks for Wisconsin. The revenue from the Bucks arena through basketball games, concerts and other events will stimulate both Milwaukee’s economy and Wisconsin’s economy.
“I am disappointed in Governor Walker for having backtracked on his original pledge for Wisconsin to invest $200 million in the deal. Pulling almost 75 percent of the state money off the table while increasing local investment BY five-times is irresponsible. Ironically, Governor Walker did a great job at today’s press conference articulating why this is not just a Milwaukee issue, but a statewide issue, which is why the state must pay its fair share in this deal.