Wisconsin Gov. Walker proposes "Pay Their Way" plan to help fund new Milwaukee Bucks arena

Wisconsin Gov. Scott Walker says the state will help the Milwaukee Bucks pay for a new basketball arena with $220 million in bonds that would be paid for by projected growth in income taxes from NBA players.

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Walker said Tuesday the "Pay Their Way" proposal would protect the state's taxpayers, while keeping the team in Milwaukee. A new arena could cost roughly $500 million.

New owners bought the team in April and have promised to contribute $150 million toward the new arena. Former owner and ex-U.S. Sen. Herb Kohl has promised $100 million of his own money to replace to help replace the BMO Harris Bradley Center.

Walker says Bucks players and visiting teams generate about $6.5 million currently, but that is expected to grow.