(WFRV) – Gov. Tony Evers signed the 2021-23 biennial budget which will provide one of the largest tax cuts in Wisconsin history and announced over $100 million in new funding for public schools.

The 2021-23 biennial budget, which is now 2021 Wisconsin Act 58, was signed by Gov. Evers.

According to officials, the tax relief will come after the last biennium which was signed in 2019. The previous biennial budget provided an estimated $577 million in individual income tax relief. The new budget alone will reportedly provide $2 billion in individual income tax relief over the two years and around $1 billion yearly going forward.

Tax relief will be provided to more than 1.6 million Wisconsin taxpayers.

I made a promise when I ran for governor—I promised I would cut taxes for middle-class families by 10 percent. Today, I am keeping my word,” says Gov. Evers.

The new budget will also provide around $685 million in additional net general and categorical school aids. The two-thirds funding mark will be hit in the next biennium for the first time in two decades. Gov Evers also announced that over $100 million in federal funds will be used for kids and schools across Wisconsin.

I’ve always said what’s best for our kids is what’s best for our state, so this budget began and ends where it always does for me—with education,” says Gov. Evers.

Shortly after Gov. Evers announced the signing of the 2021-23 biennial budget, the Republican Party of Wisconsin released the following statement from Chairman Andrew Hitt following Tony Evers’ signing of the state budget:

“Tony Evers tried to raise taxes by $1 billion in his proposed budget, so it is laughable that he is now taking credit for Republicans’ tax cut. We applaud Wisconsin Republicans for putting forward a historic budget with transformative tax cuts that will put more money in the pockets of Wisconsin families despite Tony Evers’ tax increase in his proposed budget.”

To view the full budget click here.