Foxconn Fiscal Analysis Deeply Troubling for Wisconsin Taxpayers
"I am deeply troubled by the long-term negative fiscal implications that the proposed Foxconn legislation could put the State of Wisconsin in."
MADISON, WI – State Representative David Crowley (D-Milwaukee) issued the following statement in response to the fiscal analysis released today by Wisconsin’s Legislative Fiscal Bureau regarding proposed Foxconn legislation.
“I am deeply troubled by the long-term negative fiscal implications that the proposed Foxconn legislation could put the State of Wisconsin in. According to the fiscal analysis release this afternoon by the Legislative Fiscal Bureau, even if Foxconn delivered on their promise of creating 13,000 jobs, Wisconsin taxpayers would be on the hook until approximately 2043. Those numbers get even worse if Foxconn does not fulfill their 13,000 job promise, creating a potential situation where our grandchildren could still be paying the company for a deal that was made this year.
“Like all my fellow legislators, I know the importance of creating jobs here for the citizens of Wisconsin. However, I warn that this proposal could end in a reward that does not justify the size of the financial risk. This legislation thus must contain more guarantees concerning labor compensation, more claw back provisions, and a transportation addition to guarantee individuals in Southeastern Wisconsin the ability to get to these jobs. Without these guarantees, this legislation could be too big of a risk for Wisconsin taxpayers.”
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