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State taxes

Five Reasons the Foxconn Deal Would be Bad for Wisconsin

August 21, 2017 — The proposed package of incentives aimed at encouraging Foxconn to build a manufacturing facility in southeast Wisconsin could cost the state more than $3 billion in the next 15 years. This analysis summarizes five of the reasons why the proposed deal is a poor use of public resources.

The Significant Risk of Never Breaking Even on Foxconn Subsidies

August 16, 2017 — When the Legislative Fiscal Bureau wrote that it would take until at least 2043 for Wisconsin to break even on the Foxconn subsidies, they were summarizing an analysis that used the “best case” assumptions. Using the same methodology and most of the same assumptions, a new Wisconsin Budget Project analysis calculates that other scenarios within the range described by Foxconn could mean that the cost of the state subsidies would not be recovered until 2050 or 2058.

The Big Giveaway is Getting Bigger: Updated Figures Show Growing Tax Credit is Inefficient, Costly

February 2, 2017 — A tax credit that allows manufacturers and some other businesses to pay next to nothing in income taxes has ballooned far beyond original cost estimates and is slanted to favor a small group of wealthy claimants. Most of the credit goes towards reducing income taxes for millionaires, with some tax filers with incomes of over $1 million receiving tax cuts of more than $100,000.