Scott Walker Signs Arena Deal, Handing $400 Million To Billionaire NBA Owners

Wisconsin Gov. Scott Walker (R) signed legislation Wednesday that commits hundreds of millions of dollars in taxpayer money to a new arena for the NBA’s Milwaukee Bucks, a move that could complicate the Republican presidential candidate’s efforts to paint himself as the most ardent small-government conservative in a crowded field.

Walker and state GOP leaders pushed the arena plan for months, especially as the team’s owners threatened to move the Bucks to a new market. The deal requires the team’s current and former owners to cover half of the arena’s $500 million projected cost, while taxpayers will cover the rest — with interest, the public cost could rise to as much as $400 million. But at the signing ceremony Wednesday, Walker repeated claims that the arena would return $3 for every $1 invested into the project.

“We think this is a good, solid move, as good stewards of the taxpayers’ money,” Walker said. “I think anybody investing in the world of small business would say that’s a good return on investment.” .... http://www.huffingtonpost.com