Wisconsin Senate GOP leader working on income tax cut for families with up to $200,000 in earnings

2024-12-25 11:23:17 source:lotradecoin staking category:My

MADISON, Wis. (AP) — Income taxes would be cut for Wisconsin families earning up to about $200,000 under a plan being worked on by Senate Republicans, a GOP leader said Thursday.

The proposal will be targeted at middle class families in an attempt to win the support of Democratic Gov. Tony Evers, who has vetoed past tax cuts that applied to taxpayers earning up to about $405,000, Senate Majority Leader Devin LeMahieu said.

Details of the latest plan are still being worked out, but in general it would lower the tax on income between about $36,000 and around $200,000 for families from 5.3% to 4.4%, LeMahieu said following an appearance at a WisPolitics.com event. Currently, the 5.3% tax rate applies to those earning between about $36,000 and around $405,000.

The proposal would cost about $1 billion a year, he said.

“That’s something we’re confident the governor can sign,” LeMahieu said.

Evers has vetoed past Republican-backed income tax cuts, saying they didn’t target the middle class. Republicans rejected an Evers tax cut plan that he submitted last year as part of the state budget.

Evers’ spokesperson did not return a message seeking comment.

Republican Assembly Speaker Robin Vos last month said he would be backing a tax cut on retirees’ income. But LeMahieu said he didn’t like tax cuts that “choose winners and losers” and instead favors a broad reduction for all taxpayers.

More:My

Recommend

One Tech Tip: How to protect your communications through encryption

LONDON (AP) — After a sprawling hacking campaignexposed the communications of an unknown number of A

Nordstrom Rack's Epic Spring Clearance Sale Has $128 Free People Tops for $24 & More 90% Off Deals

We independently selected these deals and products because we love them, and we think you might like

Feel Like You're Addicted To Your Phone? You're Not Alone

As we head into the weekend, many of us will get a weekly notification on our phones showing how man