Paul Ryan defends tax breaks for Foxconn at town hall
U.S. House Speaker Paul Ryan says Foxconn Technology Group's plan to construct a factory in his southeastern Wisconsin congressional district that could employ thousands is a "game changer" and an "exceptional deal."
Ryan was asked at a town hall Monday night broadcast nationwide on CNN whether the deal was worth it given that Wisconsin is poised to give the Taiwanese company $3 billion in taxpayer incentives to build the plant.
Ryan helped negotiate the deal to bring Foxconn to the state to construct LCD display screens for televisions and other uses. Wisconsin won out over several other states.
Ryan says the factory will be transformational for the state because "it brings an entire sector to Wisconsin." And he says the tax incentives are all contingent on Foxconn meeting investment and hiring targets.
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