Wisconsin Does Not Have The Votes To Secure $3 Billion Foxconn Tax-package: Report

By Ciara LinnaneMarketsMarketWatch Pulse

The leader of the Wisconsin senate said he does not yet have the votes to secure a $3 billion package of tax credits that are part of Foxconn's planned investment in a plant in the state, the Journal Sentinel reported Wednesday. "We should be cautious," Senate Majority Leader Scott Fitzgerald (R-Juneau) told reporters after meeting with Gov. Scott Walker for an hour, the paper reported. A report last week from the Legislative Fiscal Bureau found that Wisconsin taxpayers would not recoup their investment until 2043. News that Foxconn was planning to build the plant was announced with much fanfare in July by Walker and President Donald Trump. The Taiwanese manufacturer is best known for making Apple's iPhone at factories in Asia and Latin America. But Foxconn has a history of broken promises and has still not broken ground on a plant promised in Pennsylvania four years ago.

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