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Governor Walker Announces "Bucks Will Pay Their Way" Plan
Governor Walker held a brief news conference Tuesday to announce a proposal that would help fund a new Bucks arena in next week's state budget. Walker highlighted the $220 million in bonding for a new arena coming from NBA player tax revenues and clearly stated, "There's absolute security for the taxpayers. No new taxes, no drawing on existing revenues, no exposure to the future..." NBA players currently pay $6.52 million annually in state income taxes and with the continual growth in player salaries as well as the NBA's new TV deal that eclipses $20 billion, the full $220 millions could be covered in revenue bonds included in his state budget. The picture below was used during Walker's presentation to explain the "Pay Their Way" plan that all but guarantees the future of the Bucks in Milwaukee.
