GOP commits Wisconsin to $3 billion liability
Republicans pass corporate welfare package at the expense of local schools and crumbling roads
MADISON – With a budget that fails to restore school funding, improve local roads and protect access to healthcare, Senate Republicans voted for the largest state taxpayer giveaway to a foreign corporation in U.S. history. Democratic amendments to ensure a fair deal for taxpayers, protect Wisconsin communities and guarantee opportunities for Wisconsin workers were voted down by the Republican majority. The bill passed the Senate with bipartisan opposition.
“Democrats don’t want to put our home-grown businesses at a competitive disadvantage by giving unfair tax breaks and subsidies to a foreign corporation that doesn’t share our Wisconsin values,” said Senator Jennifer Shilling (D-La Crosse). “Legislative Republicans have committed state taxpayers to $3 billion in corporate subsidies while taking money away from classrooms, roads and healthcare for decades to come. Rather than creating special loopholes for a foreign corporation, Democrats remain committed to prioritizing Wisconsin workers, Wisconsin business, and Wisconsin taxpayers.”
PolitiFact Wisconsin confirmed that the Foxconn bill is the most costly state-funded tax credit package ever offered to a foreign corporation in U.S. history. Under Governor Walker’s administration Wisconsin has trailed the nation in job creation for 23 consecutive quarters -- one of the longest periods of economic stagnation in Wisconsin history. Given Wisconsin’s lagging economy and declining family wages, Democrats have argued that the state should focus on boosting small businesses, strengthening workplace protections and encouraging more locally-grown start-up companies across Wisconsin.