The $4.4 billion tax cut plan approved by Republicans at the Wisconsin Capitol is the latest piece of the new state budget that Gov. Tony Evers is promising not to sign.
Republicans on Thursday okayed a tax cut package that will lower income taxes for everyone, but will give top earners in the state a larger tax cut.
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The threat Wisconsin may see less money over the next two years is not deterring one budget reform group from pushing for “historic” tax reform.
The Institute for Reforming Government this week released its Playbook for Income Tax Relief in Divided Government.
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As the Wisconsin Legislature considers sweeping tax cuts, a new report finds a flat tax would yield substantial benefits for all.
The report, published by the Badger Institute, notes single-rate reform to Wisconsin’s costly progressive tax system would spur faster economic growth, creating more jobs and more investment — all while lowering the burden on Badger State taxpayers.
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Billing it a “breakthrough budget,” Governor Tony Evers rolled out a massive two-year spending plan on Wednesday that would dump billions more taxpayer dollars into a host of new programs, raise taxes by $1 billion-plus on businesses, deliver a sweetheart deal to the Milwaukee Brewers, and gobble up much of the state’s historic $7.1 billion surplus.
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In his fifth State of the State address Tuesday evening, Gov. Tony Evers began laying out how he plans to use Wisconsin’s $6.6 billion surplus, pitching a spending bender of big government initiatives already with a price tag to date of around $1.3 billion.
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The top Republican in the Wisconsin Assembly says he’s willing to work on “solutions” with Gov. Tony Evers.
Speaker Robin Vos on Thursday said he sees Republicans offering the governor compromises on abortion, school choice and taxes.
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Wisconsin’s governor says he wants to cut taxes in the state.
After proposing more than $1 billion in new taxes and new spending in each of his two proposed state budgets, Gov. Tony Evers on Tuesday proposed a $600 million tax cut and price cut plan.
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Whatever one thinks about President Donald J. Trump’s personality, his policies were the most conservative reforms that America has seen since President Ronald Wilson Reagan left office — and perhaps even before he arrived.
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Gov. Ned Lamont said he is proposing a package of legislative proposals that would provide for $336 million in tax relief for state residents.
The governor announced the first package of tax aid comes as the state has a projected $1.48 billion surplus in its operating budget. The surplus, Lamont said, enables the tax cuts to be built into the budget and will ensure the state’s Rainy Day Fund remains strong.
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Buffeted by a Russia scandal that proved false, Donald Trump ended the first year of his presidency on a high note with passage of historic tax cuts. In contrast four years later, Joe Biden’s first year in office is ending with a stunning rebuke from a senator in his own party.
On Sunday, Sen. Joe Manchin (D-W.Va.) gave a resounding “No” to Biden’s signature Build Back Better legislation, leaving an uncertain path for the Democrats’ ambitious agenda despite the fact they control the Senate, House and White House.
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Democrats have argued that the tax reforms implemented through the 2017 Tax Cuts and Jobs Act (TCJA) only benefited the rich, and that the Build Back Better Act (BBBA) will help middle-and working-class Americans the most.
But several nonpartisan groups found that the TCJA reduced the tax burden for the middle- and working-class by up to 87% and, they argue, the $2.4 trillion BBBA – before the U.S. Senate this week – would increase taxes on the middle- and working-class by up to 40%.
A new analysis published by the Heartland Institute found that the TCJA reduced the average effective income tax rates for taxpayers in every income tax bracket – but the lower- and middle-class saw the greatest benefits – with the lowest-income filers receiving the largest tax cuts.
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