Foxconn Wisconsin: Lawmaker Explains Delayed Contract Vote

MADISON, WI — Wisconsin state Sen. Tim Carpenter, who is in negotiations with Foxconn to establish a massive electronics plant in the state, said a key contract vote was postponed because taxpayer money could be exposed if the Taiwanese company doesn't hold up its end of the deal. Gov. Scott Walker signed a $3 billion incentives package for Foxconn to build a flat screen manufacturing complex in Mount Pleasant. The Wisconsin Economic Development Corporation is working on a contract to execute the incentives.

Carpenter said because of the deal's structure, the agency can't guarantee that taxpayer money will be recouped if Foxconn breaches the agreement, the State Journal reported.

The agency's CEO, Mark Hogan, has declined to explain why the scheduled vote was delayed. Democrats are pressuring Hogan to release the contract details before any vote.

Photo credit: Kin Cheung/Associated Press