Wisconsin governor Scott Walker on Tuesday said new growth in income tax revenue from Milwaukee Bucks' players and visiting teams will generate enough money to cover debt payments on $220 million in state-issued bonds for a new Milwaukee arena.

Walker said the plan, simply put, is a "Pay Their Way" proposal.

Recent estimates indicate that the amount of income tax revenue from NBA athletes in 2015 would total $15 million. 

Walker said starting in 2017, the state would lose more than $10 million in revenue annually if the Bucks leave. 

A new arena is expected to cost $400 million to $500 million. Bucks' owners Wes Edens, Marc Lasry and Jamie Dinan have pledged at least $150 million toward the new arena.