Republican legislators passed a bill with a $250 million income tax cut, but Gov. Tony Evers seems likely to veto the bill because of a lack of funding for public schools.
The tax cut passed by the Senate on Thursday would return $250 million of the government’s surplus to mostly middle-class and lower-class Wisconsinites. Additionally, another bill would decrease property taxes for Wisconsin businesses by $40 million.
Senate Majority Leader Scott Fitzgerald, R-Juneau, said he’s happy the strong economy built by previous Republican policies allowed lawmakers to return money to taxpayers.
“I am thrilled that we were able to pass both an income tax cut for hard-working Wisconsin families and a tax cut for the businesses of our state,” Fitzgerald said.
While the bill still has to be passed by the Assembly before reaching the Governor’s desk, Evers has already indicated he is unlikely to pass the bill.
Evers put forward his own plan to devote $252 million of the surplus to help fund public schools which would have included about $130 million in property tax relief.
In a tweet, Evers criticized Republicans, saying:
Sen. David Craig, R-Town of Vernon, said Evers’ plan would “balloon” the obligations for Wisconsin’s taxpayers while Republicans are limiting future expenses.
“Our tax cut plan is centered on returning the surplus tax collections to those that
already paid it, reducing compliance costs for business, and getting rid of debt,” Craig said.
