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Gov. Scott Walker suggests state income taxes charged to NBA basketball players who use the new arena can cover the $220 million the state would borrow for the project.
Wisconsin State Journal,Cheap World Cup Jerseys, March 4
But how much of the project will that cover? The public hasn't seen a firm price tag.
A Brown County sales tax — approved by county voters — helped renovate Lambeau Field, home of the Green Bay Packers.
The Milwaukee Bucks don't mean as much to Wisconsin's identity as the Brewers and Packers. Yet all of Wisconsin should want to keep the Bucks in our state, which will require a new arena, according to the NBA.
So what's left? And what if any burden will fall on state taxpayers,Cheap Jeseys NFL?
A team source pegs the cost at between $450 million and $500 million,Deion Sanders Falcons Jersey, according to the Milwaukee Journal Sentinel. Yet the team just last week named an architectural firm, so construction estimates are fluid.
A local sales tax in Milwaukee and four surrounding counties paid for Miller Park, home of the Brewers.
Those who benefit the most from having a professional sports team in the state's largest city bear the most responsibility for making a new arena become reality. They need to step up in significant ways before state taxpayers ever will.
Those questions need answers — along with the total cost and scope of the project — before the state pledges any financial support.
Republicans who run the state Legislature are right to press team and local officials for more detail,Cheap Jerseys From China Outlet, and to scrutinize $220 million in state borrowing the governor has included in his state budget for a Bucks arena.
Rep. John Nygren, R-Marinette,Adidas Superstar Shoes On Sale, said this week he wants the owners of the Bucks to kick in more of their money, which seems reasonable. So far, team owners Wes Edens and Marc Lasry have pledged $150 million. That's a lot.
So where is the financial commitment from the Milwaukee area to help build a new arena for the Bucks? And how much will that be?
Lawmakers right to scrutinize arena request
State lawmakers should be cautious and ask a lot of tough questions before committing any tax dollars.
The Bucks help brand Milwaukee as a big-time city, especially when the team is winning. The Bucks have a big economic impact on Downtown Milwaukee and surrounding communities.
Maybe. But that assumes player salaries will continue to soar, and that the NBA will reap considerably higher profits on TV contracts in the future.
Former Bucks owner and retired U.S. Sen. Herb Kohl has pledged $100 million, which is wonderful.
Milwaukee County Executive Chris Abele suggests the county could donate land. That might work, too, if such a donation proves substantial.
Milwaukee Mayor Tom Barrett says his city will pay for streets, utilities and parking around the new arena,Wholesale Jerseys Free Shipping, perhaps by creating special tax districts. That sounds promising. But it needs to be quantified. |
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