{"id":16399,"date":"2025-05-01T16:34:27","date_gmt":"2025-05-01T16:34:27","guid":{"rendered":"https:\/\/wifamily.news\/?p=16399"},"modified":"2025-05-01T16:59:09","modified_gmt":"2025-05-01T16:59:09","slug":"wisconsin-taxpayers-would-pay-2229-more-if-tax-cuts-expire-report-says","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=16399","title":{"rendered":"Wisconsin Taxpayers Would Pay $2,229 More If Tax Cuts Expire, Report Says"},"content":{"rendered":"<p>This post originally appeared at <a href=\"https:\/\/www.wisconsinrightnow.com\/report-wisconsin-taxpayers-would-pay-2229-more-if-tax-cuts-expire\/\">https:\/\/www.wisconsinrightnow.com\/report-wisconsin-taxpayers-would-pay-2229-more-if-tax-cuts-expire\/<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"630\" src=\"https:\/\/wifamily.news\/wp-content\/uploads\/2024\/10\/Untitled-design-9.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"IRG Wisconsin Drop Its Income Tax\" title=\"\" \/><\/p>\n<p>(The Center Square) \u2013 Wisconsin taxpayers will see a tax increase of, on average, $2,229 per filer if the federal Tax Cuts and Jobs Act expires Jan. 1, according to a new report from the National Taxpayers Union.<\/p>\n<p>If the bill expires, it would increase taxes for 80% of Americans, the report says.<\/p>\n<p>The <a href=\"https:\/\/www.thecentersquare.com\/national\/article_8168be78-d959-4dd5-8481-2a31a8352e84.html\" target=\"_blank\">largest tax increases<\/a> would hit people in Massachusetts ($4,848 annual tax increase), Washington ($4,567) and California ($3,768).<\/p>\n<p>If the cuts are extended, it is projected to cost the federal government about $4 trillion in revenue.<\/p>\n<p>If the legislation expires, it will cut in half the federal standard deduction, reduce child tax credits, reintroduce higher federal tax brackets and lower the threshold for federal estate taxes while cutting several business tax benefits.<\/p>\n<p>\u201cWisconsin does not adopt full expensing business investments,\u201d the <a href=\"https:\/\/www.ntu.org\/publications\/detail\/what-happens-to-wisconsin-taxpayers-if-the-2017-tax-cuts-expire\" target=\"_blank\">report says<\/a>. \u201cState policymakers could adopt 100% full expensing regardless of whether federal full expensing is renewed.\u201d<\/p>\n<p>If the cuts expire, individual and business taxes would go up $500 billion each year while reducing the federal gross domestic product 1.1% and wages by 0.5%, the report says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post originally appeared at https:\/\/www.wisconsinrightnow.com\/report-wisconsin-taxpayers-would-pay-2229-more-if-tax-cuts-expire\/ (The Center Square) \u2013 Wisconsin taxpayers will see a&#8230;<\/p>\n","protected":false},"author":15,"featured_media":13740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-16399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wi-right-now"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/16399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16399"}],"version-history":[{"count":2,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/16399\/revisions"}],"predecessor-version":[{"id":16401,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/16399\/revisions\/16401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/13740"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}