{"id":3794,"date":"2023-06-26T05:04:33","date_gmt":"2023-06-26T05:04:33","guid":{"rendered":"https:\/\/wifamily.news\/?p=3794"},"modified":"2023-06-26T10:01:58","modified_gmt":"2023-06-26T10:01:58","slug":"republican-tax-cuts-headed-for-budget-showdown","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=3794","title":{"rendered":"Republican Tax Cuts Headed for Budget Showdown"},"content":{"rendered":"

This post originally appeared at https:\/\/wisconsindailystar.com\/news\/republican-tax-cuts-headed-for-budget-showdown\/tcsquare\/2023\/06\/26\/<\/a><\/p>\n

<\/div>\n
by Benjamin Yount<\/h5>\n

\u00a0<\/p>\n

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.<\/p>\n

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.<\/p>\n

\u201cWe are cutting income taxes by $3.5 billion and property taxes by $795 million, along with finally ending the personal property tax once and for all. The average taxpayer will see a $573 decrease in their state income taxes beginning in 2023,\u201d State Rep. Mark Born, R-Beaver Dam, and State Sen. Howard Marklein, R-Spring Green said.<\/p>\n

Gov. Evers wants a tax cut as well, but he has called the Republican\u2019s previous tax cut suggestions a \u201ctax cut for millionaires.\u201d<\/p>\n

He used a similar line about this tax cut proposal as well.<\/p>\n

\u201cTax relief should be targeted to the middle class to give working families a little breathing room\u00a0\u2013 not to give big breaks to millionaires and billionaires who don\u2019t need the extra help to afford rising costs,\u201d Evers said on Twitter. \u201cThat\u2019s just common sense.\u201d<\/p>\n

The governor did not say Thursday if he planned to sign the tax cut plan, he has said in the past that he would veto any budget that cuts taxes for top earners.<\/p>\n

Marklein acknowledged that is a possibility.<\/p>\n

\u201cBut we made tax cuts last time, and the governor approved them, signed them into law, and ran on those tax cuts last fall,\u201d Marklein added.<\/p>\n

The Republican plan as written would cut Wisconsin\u2019s top income tax rate of 7.65 percent to 6.5 percent, which means a 15 percent tax break for married couples making over $405,550 a-year. The same married couple making between $36,840 and $405,550 would see their income tax rate go from\u00a0 5.3 percent to 4.4 percent, which is a 17 percent tax cut. Married couples who earn less than $36,840 would see their income tax rate go from 4.65 percent to 4.4 percent, which would be a 5 percent tax cut. Wisconsin\u2019s lowest earners, a married couple who is making $18,420 or less, would see a .04 percent income tax cut, from 5.54 percent to 5.50 percent.<\/p>\n

\u201cThese are good policies, and proper actions to return some of the surplus to the people of Wisconsin, and we hope that the governor agrees with that,\u201d Born added.<\/p>\n

The Republican tax cut is just one piece of the new state budget that has the governor promising a veto.<\/p>\n

Gov. Evers has suggested he would veto any cuts to the University of Wisconsin, particularly those targeted at diversity, equity, and inclusion efforts at the school.<\/p>\n

Lawmakers voted for $32 million in DEI cuts at the UW System on Thursday.<\/p>\n

\u2013 \u2013 \u2013<\/p>\n

Benjamin Yount is a regular contributor to The Center Square<\/a>.
\nPhoto \u201cTony Evers\u201d by Tony Evers<\/a>. Background Photo \u201cWisconsin Statehouse\u201d by F McGady<\/a>. CC BY-SA 4.0.<\/em><\/p>\n

\u00a0<\/p>\n

The post Republican Tax Cuts Headed for Budget Showdown<\/a> appeared first on The Wisconsin Daily Star<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This post originally appeared at https:\/\/wisconsindailystar.com\/news\/republican-tax-cuts-headed-for-budget-showdown\/tcsquare\/2023\/06\/26\/ by Benjamin Yount \u00a0 The $4.4 billion tax cut…<\/p>\n","protected":false},"author":15,"featured_media":3495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-3794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wi-daily-star"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3794","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=3794"}],"version-history":[{"count":1,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3794\/revisions"}],"predecessor-version":[{"id":3795,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/3794\/revisions\/3795"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/3495"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}