Taxpayers would Cover $250 Million Plus Interest in Bucks Arena Plan

MacIver News Service | June 4, 2015

[Madison, Wisc…] State and local taxpayers would be on the hook for $250 million plus interest in a new plan for the Bucks arena, while current and former owners would cover another $250 million. After adding in interest, the plan would cost taxpayers around $400 million total over 20 years. Gov. Scott Walker and other elected officials argued on Thursday that would be less than the $419 million the state would lose if the Bucks were moved to a different city.

The plan still needs to be approved by the Joint Committee on Finance and both houses of the legislature. Senate President Mary Lazich (R-New Berlin) told the MacIver Institute she would prefer to have the deal voted on as a separate piece of legislation – a view shared by many of her colleagues.

Some, however, believe there should be no public financing of the project at all. With JFC expected to finish up the budget in the coming week, taxpayers may soon have answers as to what the final plan will be.