House Speaker Paul Ryan told reporters in Milwaukee Monday to “stay tuned” for news about Foxconn’s decision on whether to locate a factory in southeastern Wisconsin.
Asked whether he had any insights into the technology company’s decision, Ryan said, “I do and stay tuned.”
But he said he’d leave updates on the matter to Gov. Scott Walker, whom he called the “quarterback” of the negotiations.
A Walker spokesman did not return calls Monday seeking comment.
The Wall Street Journal today, citing people familiar with the matter, reported Foxconn is nearing a decision to invest in Wisconsin and could hold an event in Washington, D.C., as soon as this week to discuss U.S. plans.
Ryan, R-Janesville, was in Milwaukee meeting with MillerCoors executives to discuss tax reform and to tour the facility.
Ryan noted that as an American company, MillerCoors is taxed at 35 percent, while other countries tax their businesses at an average rate of 22.5 percent. He said that higher puts American companies at a competitive disadvantage.
“We want American businesses to win and succeed in the global economy, and that is why we are so focused on cleaning up this tax code so we can get faster economic growth and more jobs,” Ryan said.
MillerCoors CEO Gavin Hattersley said tax rates in the U.S. are high compared to other countries and lower rates would make the company more competitive globally and be helpful in getting capital projects approved.
See the Wall Street Journal story: