{"id":3721,"date":"2023-06-22T20:44:14","date_gmt":"2023-06-22T20:44:14","guid":{"rendered":"https:\/\/wifamily.news\/?p=3721"},"modified":"2023-06-22T21:12:16","modified_gmt":"2023-06-22T21:12:16","slug":"wmc-statement-on-proposed-tax-reform-plan","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=3721","title":{"rendered":"WMC Statement on Proposed Tax Reform Plan"},"content":{"rendered":"<p>This post originally appeared at <a href=\"https:\/\/www.wmc.org\/press-releases\/wmc-statement-on-proposed-tax-reform-plan\/\">https:\/\/www.wmc.org\/press-releases\/wmc-statement-on-proposed-tax-reform-plan\/<\/a><\/p>\n<p><strong>MADISON<\/strong> \u2013 Members of the budget-writing Joint Finance Committee (JFC) announced $4.4 billion in tax cuts on Thursday, $3.5 billion of which would come from an income tax cut. The proposal would reduce the top individual income tax rate from 7.65 percent to 6.5 percent. Additionally, it would combine the middle brackets at a rate of 4.4 percent and reduce the lowest bracket to 3.5 percent.<\/p>\n<p>Following the announcement, Wisconsin Manufacturers &amp; Commerce (WMC) Director of Tax, Transportation &amp; Legal Affairs Evan Umpir released the below statement:<\/p>\n<p><em>\u201cWMC and our members applaud Republican legislators for proposing to significantly reduce and flatten the state\u2019s individual income tax. Specifically, this plan would help move Wisconsin outside the top 10 highest income tax states \u2013 making Wisconsin a more attractive place for employers and workers alike.<\/em><\/p>\n<p><em>\u201cWhile the proposed changes to the individual income tax are meaningful, Wisconsin would continue to have the second highest top income tax rate in the Midwest. We hope this is a first step in putting our income tax on a path to be competitive with our neighboring states like Illinois, Indiana, Iowa, Michigan and Ohio \u2013 all of which have or will have an income tax rate below five percent.<\/em><\/p>\n<p><em>\u201cWe urge bipartisan support of this proposal in the legislature and hope Gov. Evers will sign it into law.\u201d<\/em><\/p>\n<p style=\"text-align: center\">###<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.wmc.org\/press-releases\/wmc-statement-on-proposed-tax-reform-plan\/\">WMC Statement on Proposed Tax Reform Plan<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.wmc.org\">WMC Wisconsin&#8217;s Chamber <\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post originally appeared at https:\/\/www.wmc.org\/press-releases\/wmc-statement-on-proposed-tax-reform-plan\/ MADISON \u2013 Members of the budget-writing Joint Finance Committee&#8230;<\/p>\n","protected":false},"author":2,"featured_media":440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-3721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wmc"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3721","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3721"}],"version-history":[{"count":1,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3721\/revisions"}],"predecessor-version":[{"id":3722,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3721\/revisions\/3722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/440"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}