MADISON, Wis. (AP) — Republicans who control the Legislature’s finance committee have finished their revisions on the state budget by inserting a $3.3 billion tax cut into the spending plan.
The GOP introduced provisions Thursday that include cutting income taxes for people earning between $23,930 and $263,480 and cutting property taxes that fund schools and technical colleges by $647 million and backfilling that lost revenue with state aid.
The Legislative Fiscal Bureau said the changes will guarantee state schools will receive $2.6 billion in federal coronavirus relief dollars. The budget goes next to the full Senate and Assembly.
Approval in both houses will send the budget to Gov. Tony Evers, who can use his veto powers to rewrite the document to his liking.