MADISON, WI (WTAQ-WRN) — State Assembly Republicans on Tuesday passed a package of tax cuts totaling nearly $3 billion.
“The governor after his line item veto, the average tax cut was about $36,” said Oostburg Republican Terry Katsma. “This proposal that we have here today is going to result in an average tax cut of about $770. We need to return this money back to the taxpayers.”
The bill would reduce the third-highest tax bracket to 4.4% from 5.3%, and also expand an existing break on retirement income.
Governor Tony Evers has already promised a veto, warning the cuts could “break the bank” for future state budgets.
Lawmakers also approved a proposal to amend the state constitution to require approval from a two-thirds majority of each chamber of the Legislature in order to raise taxes.
