Republican Tax Plan Will Put Money Back Into The Hands of Wisconsin Families
February 8, 2019
[Madison, WI] — Republican lawmakers are working hard to return more money back to Wisconsin’s hard-working middle class families. While Governor Evers still won’t tell us how he’ll fund his competing plan, which includes raising taxes on Wisconsin job creators, Republicans have offered a straightforward plan that will delivers real results.
Check out what they are saying about the Republican middle class tax cut plan here:
From Wisconsin Public Radio: The Republican bill would use existing state funds to fund a cut that would save the average taxpayer $170 a year, according to the Legislature’s nonpartisan budget office. “Political theater aside, we have a great opportunity here to put money back in the hands of those who need it most in our state,” said Rep. Shannon Zimmerman, R-River Falls.
From Milwaukee Journal Sentinel: The $338 million plan would reduce an average married couple’s income taxes by about $300 and heads to the Assembly floor next week…Republican leaders of the finance committee said, “we are delivering a real, middle-class tax cut for Wisconsin families.”
From The Cap Times: The Republican proposal would cut individual income taxes by using a budget surplus to expand the maximum standard deduction by 20.6 percent for single people making less than $127,000 and for joint filers making less than $155,000.
From La Crosse Tribune: Republicans on the Legislature’s budget-writing committee approved the GOP plan Thursday on a party-line 10-3 vote. They touted the plan as far superior to Evers’ proposal, saying there’s no need to raise taxes on manufacturers given the surplus and healthy economy.
From Wisconsin Public Radio: Even with that source of funding, Evers plan still would leave about $375 million of his tax cut unpaid for, meaning it would come out of the state budget’s general fund that pays for other expenses like schools, prisons and health care for low-income residents.
From Wisconsin State Journal: GOP lawmakers, meanwhile, pressed their plan for a similar middle-class tax cut that could get a vote in the Assembly as soon as next week. They aren’t proposing any offsetting increase in taxes, so their cut would draw down the state’s general fund reserves. Its lead sponsor, Assembly Speaker Robin Vos, R-Rochester, hailed the plan while calling Evers’ proposal to cap the manufacturing tax credit a “poison pill” for Republicans. “We are not going to raise taxes — period,” Vos said. “We are not going to raise taxes especially on our job creators when we have a huge budget surplus.”