PRESS RELEASE |
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FOR IMMEDIATE RELEASE |
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July 15, 2015 |
FOR FURTHER INFORMATION CONTACT: |
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Sen. Steve Nass (608) 266-2635 |
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Bucks’ Arena Deal Shows NBA
Blackmail Works |
Nass: State taxpayers
gifting $80 million to billionaire owners. |
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Senator Steve Nass (R-Whitewater) will vote
against a bill to commit over $400 million in taxpayer
subsidized principal and interest payments for a new arena in
downtown Milwaukee. The State of Wisconsin will give away $80
million toward the project. |
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“When someone says give us $400 million or we
will take our basketball and $6.5 million in annual income tax
revenues to Vegas, you can’t call that a negotiation. It is
nothing short of a capitulation by the state,” Nass said |
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Nass noted that in the current fiscal year the
State of Wisconsin will collect $8.2 billion in individual
income taxes. The Bucks’ will contribute about $6.5 million or
0.0008% of the total income tax collections by the state
annually. |
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“To say the Milwaukee Bucks have this massive
impact on Wisconsin is a political deception. That $80 million
in state funding could be used to save businesses that have a
far greater income tax benefit or even better, taking some of
those dollars and investing in our youth sports facilities
around Wisconsin,” Nass said. |
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The travel industry reported in 2014 that youth
sports tourism was the fastest growing sector of travel
accounting for $7 billion in expenditures in the United States.
Study after study shows the significant economic impact of youth
sporting events on communities. However, Wisconsin has not kept
up with our neighboring states in maintaining or developing
quality facilities for youth sporting tournaments and events. |
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