UPDATE: Wisconsin Senate approves $3 billion for Foxconn
UPDATE: MADISON, Wis. (AP) --The Wisconsin Senate has approved nearly $3 billion in cash payments for Taiwan-based Foxconn Technology Group.
Foxconn plans to construct a massive flat-screen production factory in the state.
The Republican-controlled Senate on Tuesday discounted Democratic concerns about the unprecedented $3 billion incentive package and passed the bill on a 20-13 vote.
The proposal now heads to the Wisconsin Assembly for a final vote Thursday.
Democrats argue there aren't enough protections for taxpayers under the deal.
Republican Gov. Scott Walker negotiated the deal and has been touting the plant as a once-in-a-lifetime opportunity for the state. Foxconn has said it may invest $10 billion in the state and employ up to 13,000 people.
MADISON, Wis. (CBS 58) -- The plan to bring Foxconn to Wisconsin could be one step closer to reality by the end of the day.
The day has mostly been democrats slamming the nearly $3 billion tax incentive for Foxconn, but they don’t have the votes to stop it and all of their 13 amendments have been defeated.
The bill was passed out of the state’s joint finance committee last week. One of the main changes the committee made was to skip the state appeals court for Foxconn cases.
The senate now plans to give the Supreme Court the option to send it down to the appeals court if they want.
Republicans continue to say the plan will bring thousands of jobs to the state.
Democrats say there aren’t enough safeguards in case Foxconn doesn’t follow through on the jobs.
There are now ways to get half that money back. I understand there’s something to deal with job credits down the line but there’s no accountability and we’re basically saying today in this legislation and we’re going to let an agency spend $3 billion and we don’t have any recourse at all.
“It’s a once in a lifetime kind of opportunity and we have to make sure we do our homework and make sure it’s a good deal for the state, but I would hate like heck to be sitting here ten years from now thinking gosh, we could have had that and they went someplace else,” said Senate President Pro Tem Howard Marklein (R) – Spring Green.
The measure is expected to pass the Senate. The new version would still need to be passed by the Assembly before it would go to the Governor’s desk.