MADISON, Wis. (AP) — Income taxes for the average person in Wisconsin would be cut by $105 under a Republican proposal that lawmakers plan to vote on next week and quickly send to Governor Tony Evers.
The nearly $250 million income tax cut is the largest part of the GOP plan announced Friday.
It also would reduce personal property taxes paid by businesses by nearly $45 million and cut general state debt by $100 million.
Gov. Evers’ Office released a statement Friday saying, “The governor’s education plan provides an opportunity for Assembly Republicans to deliver on their promise to get to two-thirds funding for our schools before they take an eight-month vacation while still providing $130 million to help reduce property taxes across our state,” said Gov. Evers spokesperson Britt Cudaback. 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.”
Republicans are tapping some of the state’s projected $620 million budget surplus to pay for the tax cuts.
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