Budget fails to restore school funding and improve local roads, but hands $3 billion to a foreign corporation with a terrible record of keeping its promises.

MADISON - Gov. Scott Walker decided to sign the largest taxpayer giveaway to a foreign corporation in U.S. history on Monday rather than provide the money needed for Wisconsin schools, roads and families.

PolitiFact Wisconsin confirmed that the Foxconn bill is the most costly state-funded tax credit package ever offered to a foreign corporation in U.S. history. Under Governor Walker’s administration Wisconsin has trailed the nation in job creation for 23 consecutive quarters -- one of the longest periods of economic stagnation in Wisconsin history.

Given Wisconsin’s lagging economy and declining family wages, Democrats have argued that the state should focus on boosting small businesses, strengthening workplace protections and encouraging more locally-grown start-up companies across Wisconsin.

“With a budget that fails to restore school funding and improve local roads, now’s not the time to hand over $3 billion in cash payments to a foreign corporation,” said Senate Democratic Leader Jennifer Shilling (D-La Crosse). “Gov. Walker and Legislative Republicans are putting home-grown businesses at a competitive disadvantage while committing taxpayers to decades of economic costs and liabilities. Rather than creating special loopholes for a foreign corporation, Democrats remain committed to prioritizing Wisconsin workers, Wisconsin business, and Wisconsin taxpayers.”

“Gov. Walker and the Republicans put Foxconn first all summer long, they’re putting Foxconn first this week and as a result, Foxconn will have the first draw on Wisconsin taxpayers’ paychecks for at least a generation,” noted Assistant Democratic Leader Janet Bewley (D-Delta). “It’s a sad day when Wisconsin’s roads, bridges and schools are forced to play second fiddle to a foreign corporation.”

“This Foxconn deal reveals the desperation of a Governor who has yet to fulfill his 2010 campaign promise to create 250,000 private sector jobs,” said Senate Democratic Caucus Chair Mark Miller (D-Monona). “Giving $3 billion to a foreign corporation with a terrible record of keeping its promises is a political stunt that will harm Wisconsin for a generation.”

“Giving $3 billion to a foreign corporation ties the hands of future generations to solve our education and transportation funding problems,” said Senate Democratic Vice Chair Janis Ringhand (D-Evansville).