Republican to unveil new income tax cut

A Republican member of the Legislature’s powerful budget-writing committee plans to unveil his proposal for overhauling the state’s income tax system while also providing an even deeper tax cut than originally put forward by Gov. Scott Walker.

Rep. Dale Kooyenga of Brookfield plans to release his proposal on Tuesday. It comes as the Legislature’s Joint Finance Committee is nearing the end of its work making changes to Walker’s budget before it heads to the Senate and Assembly for debate.

Walker in February proposed a $343 million income tax cut.

But Kooyenga has said he wants to increase the cut by another $450 million while also doing away with a number of existing tax credits and reduce the number of tax brackets from five to three.