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Wisconsin Republicans propose $250 million income tax cut

Associated Press

MADISON, Wis. (AP) — Republicans who control the Wisconsin Legislature released a plan for a nearly $250 million income tax cut on Friday, a proposal they plan to vote on next week and quickly send to Democratic Gov. Tony Evers.

Republicans also want to reduce the personal property tax paid by businesses by nearly $45 million and state debt by $100 million.

It’s unclear if Evers supports all of the tax reductions Republicans proposed. Republican Rep. Joan Ballweg said Friday that lawmakers had not talked to Evers about their plan before releasing it.

Evers earlier proposed spending $130 million to reduce property taxes as part of a $250 million school plan the Legislature rejected. Ballweg said lawmakers will consider additional funding for schools next year when drawing up the next state budget.

The newly released Republican plan would not reduce personal property taxes as the governor had proposed. Instead, it would increase the standard deduction for income tax filers, thereby cutting income taxes.

Republicans are drawing on some of the state’s projected $620 million budget surplus to pay for the plan.

The Assembly plans to vote on the plan Thursday, their final day in session this year. It’s unclear if the Senate would take it up next week or in March.

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