End Walker’s Man & Ag Tax Credit
"Trickle down economics hasn’t worked anywhere and yet Republicans keep handing over billions of dollars to companies in the failed pursuit of jobs."
Madison – Reports from the Legislative Fiscal Bureau released this morning project that the Manufacturing and Agriculture Tax Credit will cost $570 Million dollars over the current budget. The overwhelming majority of these dollars are going to people with incomes over $1 Million dollars. In the last budget, the tax credit cost almost $400 million while in 2016 the state lost 3,776 manufacturing jobs. In response, Rep. Anderson released the following statement:
“Trickle down economics hasn’t worked anywhere and yet Republicans keep handing over billions of dollars to companies in the failed pursuit of jobs. The Man & Ag Tax Credit has cost the state $700 Million so far, with almost no manufacturing job growth to show for it. Add Foxconn to the mix, and we’ll spend over $5 Billion. That money could be re-invested in the UW system, used to reduce tuition, refinance student loan debt, fund our schools, and rebuild our roads with millions left over.”
“This tax credit has nothing to do with jobs, it’s simply a way for the wealthy and well-connected to continue their stranglehold on Wisconsin’s government. It’s obvious that the Man & Ag Tax Credit is beyond repair. It needs to be repealed and replaced.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
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