According to a June 9th Legislative Fiscal Bureau memo prepared for Senator Mark Miller, the combined cost of the tax cuts in the biennial budget bill and in other bills already enacted this year will be $212 million in the 2011-13 budget period. The annual cost of many of those credits will grow significantly in future years, and the cumulative fiscal impact over the next ten years is projected to be $2.3 billion.
Read more in a new Wisconsin Budget Project Blog post.
Jon Peacock
Four tax proposals are making their way through the state legislature now, which would line the wallets of Wisconsin’s wealthy & overwhelmingly white. We anticipate them getting to the Governor’s desk by the end of the month.
From Racine to Rhinelander, everyone in Wisconsin deserves the freedom to make a good living and care for our families. However, the tax plan proposed by Republican legislative leadership would further rig the rules in favor of the wealthiest and make Wisconsin’s glaring racial disparities even worse. The four proposals leave everyday families even further behind because none of these tax proposals effectively target families who are struggling to make ends meet.
The below statement was provided to state legislative leadership on behalf of the Raising Wisconsin coalition:January 24, 2024Chair Moses, Vice Chair Rozar, and Members of the Assembly Committee on Health, Aging, and Long-Term Care Honorable Representative...
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