The package provides $2.85 billion in refundable tax credits to Foxconn over 15 years in exchange for building a $10 billion liquid crystal display screen manufacturing campus south of Milwaukee. It would be the first of its kind outside of Asia.
Senate Republicans have enough votes to pass the state budget on Friday, a step that would end an 11-week delay and break a stalemate among the GOP that blocked a final vote, a member of the Legislature's budget committee told The Associated Press.
Walker also says he plans to veto $1 million for renovations in the state Capitol basement.
Republican Gov. Scott Walker is expected to sign the bill as soon as next week.
The $3,000,000,000 Foxconn incentive package is heading to Governor Walker's desk.
Foxconn products on display at WCTC. Foxconn says the facility initially will employ 3,000 and could eventually employ as much as 13,000.
Assembly Democrats, who didn't have the votes to stop it, slammed the proposal September 14 as being unfairly rigged to benefit Foxconn at the expense of taxpayers.
A Northwoods Republican says overall he's pleased with the Assembly-passed $76 billion state budget bill, saying it has good news for the north.
The vetoes promised by Governor Scott Walker include moving up a complete repeal of the state's prevailing wage law from next fall to when the budget is signed, making changes to a provision that restricts when school districts can hold referenda votes, and removing language that would have expanded the authority of the controversial Public Financing Authority.
Democrats have cast the deal as a costly giveaway that lacks safeguards for taxpayers and could cripple the state's ability to fund its other core functions. Foxconn could get $2.85 billion in cash payments tied to investments and job creation.
The electronics-maker could receive up to $2.85 billion in cash from state taxpayers under the deal, which would make it the largest incentive package for a foreign company in USA history.
It would be the largest ever subsidy by a US state to a foreign company; Foxconn is based on Taiwan.
Walker, who championed the deal, joined President Donald Trump in announcing Foxconn's plans to build in Wisconsin at a White House event in July, heralding it as a game-changer for American manufacturing.