Does Tony Evers want to use 10% of the Wisconsin state budget surplus to cut taxes?
Democratic Gov. Tony Evers has proposed to earmark $600 million of Wisconsin's large surplus for tax relief. The state Department of Administration's latest projections place Wisconsin's surplus at around $6.58 billion.
Evers' plan includes a 10% tax cut for "working families" — single filers making at or below $100,000 or joint filers making $150,000 and under. The average filer would save $221 a year; the median family of four would get at least a $375-a-year tax cut. If approved, the proposal would add on to the $3.4 billion in tax cuts passed in last year's state budget.
Republican Assembly Speaker Robin Vos said he wants "significantly" more than $3.4 billion in tax cuts put into the next state budget. Senate Republicans are floating the idea of a flat income tax of 3.5% for everyone. Evers has already vowed to veto it, telling The Capital Times the move would give "tax breaks to people that, frankly, are our highest income folks." The wealthiest Wisconsinites have a top tax rate of 7.65%.
