Legislators hope tax credits sway GM
JANESVILLE — State Sen. Judy Robson voted Wednesday in favor of one tax break that could convince General Motors to build small cars in Janesville.
That vote designates Janesville as a Development Opportunity Zone that would be eligible for up to $10 million in tax credits.
When the final state budget—a marriage of Senate and Assembly versions—comes up for a vote, Robson said she will vote on two tax breaks to help GM.
The budget version the Senate approved Wednesday didn’t include a capital investment tax credit that would give companies a 10 percent break on major capital expenditures.
The original budget proposal left the state’s Joint Finance Committee and headed to both the Assembly and Senate. Once it got to the Assembly, the investment tax credit was added at the request of Speaker Mike Sheridan, D-Janesville.
The credit, therefore, was not in the version the Senate approved, Robson said, adding that she strongly supports the measure.
The Assembly approved its version of the budget Tuesday.
Robson said she is certain the credit will be part of the final budget proposal that comes out of a conference committee that will iron out discrepancies between the two versions.
“I don’t think there will be any problems with it at all,” Robson said.
Sheridan also said Thursday the tax credit would be a part of the final budget. He said he wouldn’t sign off on any budget that didn’t include the provision.
Robson said the budget that passed the Senate contains provisions that will help working families, spur economic growth and put dislocated workers back to work.
The Senate version also includes funding for a UW-Madison School of Nursing building and money for a collaborative nursing program operated by UW-Rock County, UW-Oshkosh and Blackhawk Technical College.
Jun 21, 2009 at 12:10 a.m.
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Isn't it interesting that those voters that think evil corporations get too many tax breaks now are in favor of them if it suits their needs? That's fine, but quit arguing that they should pay higher taxes. Between the federal corporate tax and Wisconsin's march to drive all business out of the state, I'm surprised Janesville is even in contention. Maybe someday people will realize that lower taxes for ALL would be a real stimulus.
Jun 20, 2009 at 3:22 p.m.
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i figured our government was more interested in china
Jun 20, 2009 at 1:17 p.m.
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garyprimer, I don't know if you're new to Janesville and Rock County, just got your computer yesterday or truly have your head buried so far up your A$$ that you're clueless. General Motors has paid tens of millions of dollars in property and operating taxes to Janesville, Rock County and the state of Wisconsin over the last several decades. Then add all the local, state and property taxes paid by the employees of this business over the same amount of time. If this plant goes away, gets torn down and GM no longer has a presence in the area, you will then see what it's like to live without these taxes coming in yearly to this community. I assure you garyprimer, you won't be happy then either!
Jun 20, 2009 at 12:44 p.m.
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bobb1951, Robson's proposal WILL help address unemployment in Janesville, whether or not GM chooses to stay. As SarahB1 notes, Beloit's Gateway Business Park was also a Development Opportunity Zone. Investment tax credits are not money "given", it's money that is never required to be paid in the first place. If it does entice job creation, it is more than worth it.
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dqandhallie, if you don't see how this is a business-friendly proposal, I don't know how small the words need to be before you get it.
Jun 19, 2009 at 9:30 p.m.
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Now look at this they can cut taxes on industry if it fits their whims. None of us would be unemployed if they could just take a hint from other states and be a little more friendly to the people that employee us and remove all these stumbling blocks like regresive taxes!
Jun 19, 2009 at 9:15 p.m.
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Actually, this is a great proposal and similar to the one that built Beloit's Gateway Business Park.
Jun 19, 2009 at 7:28 p.m.
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You would think after all of the tax dollars that have been given to GM that they could pay a few back. They get a break on taxes while the rest of us suckers have to pay and pay and pay. When does this car company become a liability to the country? When its deficit is greater than the GDP? Or is that too soon?
Jun 19, 2009 at 7:21 p.m.
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another day, another GM story... wonder what tomorrows story is going to be..
"Doyle grandstands for GM" or
"Sheridan rolls out red carpet for GM" perhaps
"UAW dosnt care about laid of Lear workers" (doubt it)
maybe..
"GM plant to raise property taxes 30% for 1200 jobs in area"
Jun 19, 2009 at 5:40 p.m.
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No matter how lousy this budget is,it will be passed for Wi. is eligible (in millions )for federal stimilus money IF the budget is passed by June 30th. If deadline is missed Wi. looses out on Fed. money.Sure bet yhis budget is passed,and next question is how will state government squander the fed money??Robson (before your ouster in next election) how about help here in your district that your supposed to "represent"for the unemployed who need rental,energy assistance??
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