Wis - Repukes create new gov't entity to more quickly give taxpayer money to corporate sponsors

[Scuba]

http://www.jsonline.com/business/121362544.html

Apparently Scott Walker and the Republican Six are worried about being recalled. They've created a new state agency to more quickly give away taxpayer dollars to their wealthy sponsors.


<snip>

State legislators on Thursday introduced a bill that would create a venture capital authority to invest $400 million in potential high growth companies.

The Wisconsin Venture Capital Authority would have an executive director and a seven-member board, with the governor appointing four of them. The authority would be audited annually and submit reports to the Legislature.

It would administer two programs:

• The Jobs Now Fund would use a strategy of investing in state businesses quickly. It would issue $200 million in tax credits over time for insurance companies that invested in certified capital funds. The tax credits would be for 80% of the value of the investments made, so $200 million in tax credits could attract $250 million in investments.

<end snip>


Oh, to be a "potential high growth" company. This looks like a great opportunity for corruption.

[fascisthunter]

1. this republican party needs to go

[tabbycat31]

4. come July many will be gone

and come January the big shot will be gone

[fascisthunter]

5. and I'll be proud to use my voting right to get them out where possible

[KansDem]

2. I thought Wisconsin was "broke?"

How much is this going to cost the state?

And isn't this the "bigger government" Repubs so love to hate?

[AleksS]

3. I bet "potential for growth"

I bet "potential for growth" is measured in campaign contributions. I mean it's not like Walker hasn't already gotten caught repeatedly dishing out jobs, promotions, and kickbacks to campaign supporters.