Legislation that Gov. Scott Walker says will create jobs would provide hundreds of millions of dollars in tax breaks to insurance companies, while giving control of a $250 million fund to out-of-state financial management companies that would not have to pay back the fund's principal and would keep up to 80% of its profits.
The proposal is supported by a group of Republican lawmakers led by Sen. Randy Hopper (R-Fond du Lac) and Rep. Gary Tauchen (R-Bonduel). But some others - including at least one Republican legislator - are calling it a massive corporate giveaway.
The program is called the Jobs Now Fund and represents part of the $400 million Wisconsin Jobs Act. It aims to jump-start job creation in Wisconsin by promising $200 million in future tax credits in exchange for $250 million raised from insurance companies.
To read the full, original article click on this link: State proposal would send $250 million to certified capital companies - JSOnline
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