GOP leaders say proposed tax cut could save average family $105

Gov. Tony Evers' wants more funding for schools and property tax cuts
Proposed Tax Cut
Republican leaders want to save middle-class Wisconsin taxpayers an average of $105 on their tax bills in 2020.

WEST SALEM, Wis. (WKBT) – Republican leaders want to save middle-class Wisconsin taxpayers an average of $105 on their tax bills in 2020. It’s part of a plan to give back part of the state’s budget surplus to taxpayers.

“A day we like to celebrate love, who wouldn’t love a tax cut, right?” said Rep. Tony Kurtz, R-Wonewoc.

The republicans latest proposal would cut income taxes saving the average family or individual $105. That’s on top of the tax cut already passed in the state budget.

“This is part of our $400 million tax cut proposal,” said Nancy VanderMeer, R-Tomah. “It is once again our second major tax cut this season.”

GOP leaders say the state’s rainy day fund is at around $1 billion. Rep. Loren Oldenburg, R-Viroqua, says they want to give some of the state’s extra money back to the taxpayers without affecting local budgets.

“We do have continued revenue coming in. We have excess so we can give away,” Oldenburg said. “I don’t see a budget issue going forward.”

They also want to shave $45 million off personal property taxes for businesses. Oldenburg said the cut allows businesses to create more jobs.

“If we reduce the tax revenue on these businesses the tax revenue goes up because they are reinvesting in employees,” he said.

This proposal differs from Wisconsin Governor Tony Evers’ proposal. The governor wants to invest more money into schools while cutting $130 million in property taxes. Rep. Jill Billings, D-La Crosse, said she agrees.

“I think that this is a way to go where we can invest in our and funding for special education and mental health for kids in our school,” Billings said. “That’s really needed.”

Oldenburg said their plan focuses on the years to come.

“His dollars were going to be spent on education one time,” he said. “Then we would have to go through the budget process again.”

An Evers spokesperson released a statement in response to this plan saying in part, “Unfortunately, Assembly Republicans made it clear today that they would rather break their promise to the people of our state than work together on funding our schools and reducing property taxes in Wisconsin.”

Evers has called for a special session to go over his proposed tax cut plan. Local democrats say GOP leaders need to consider that plan. The GOP proposal is expected to go before the state Assembly next Thursday.

Comments

comments