Wisconsin households making up to about $200,000 a year will receive a tax cut on their income under a plan being worked on by Senate Republicans, Republican leaders announced Thursday.
Senate Majority Leader Devin LeMahieu said the proposal has the support of Democratic Gov. Tony Evers, who has vetoed past tax cuts that applied to taxpayers with incomes up to about $405,000. They say they are targeting middle-class households in order to increase their income.
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The details of the latest plan are still being worked out, but it would generally lower income taxes for families from about $36,000 to about $200,000 from 5.3% to 4.4%, LeMahieu said at a WisPolitics.com event. he said. Currently, the 5.3% tax rate applies to people earning between about $36,000 and about $405,000.
He said the proposal would cost about $1 billion a year.
Wisconsin State Capitol Building in Madison, Wisconsin. (Education Images/Universal Images Group, Getty Images)
“We are confident the governor can sign this,” LeMahieu said.
Mr. Evers has vetoed past income tax cuts backed by Republicans, saying they were not targeted at the middle class. Republicans rejected his Evers tax cut plan, which he introduced as part of the state's budget last year.
Evers spokeswoman Britt Cudaback had no comment on the latest proposal. Instead, he referred to the governor's previous comments that the state should not be in debt from future tax cuts.
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Republican Assembly Speaker Robin Vos said last month that he supports income tax cuts for retirees. But LeMahieu said he doesn't like tax cuts that “pick winners and losers” and supports broader tax cuts for all taxpayers.
