Advertisement

Wisconsin Republicans propose $3.4 billion tax cut

FILE - In this May 22, 2019, file photo, Wisconsin Assembly Speaker Robin Vos, standing at...
FILE - In this May 22, 2019, file photo, Wisconsin Assembly Speaker Robin Vos, standing at podium, surrounded by fellow Republican lawmakers, speaks at the Capitol in Madison, Wis.(AP Photo/Scott Bauer File)
Updated: Jun. 17, 2021 at 5:47 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

MADISON, Wis. (AP) — Wisconsin Republicans are preparing to insert a $3.4 billion tax cut in the state budget.

The Legislature’s Joint Finance Committee is poised to make its final revisions to the 2021-23 spending plan Thursday evening.

Republican leaders announced at a news conference before the committee met that the tax cut will translate to $1,200 in savings for a typical family through income tax relief and property tax relief.

They plan to eliminate the personal property tax, a tax businesses pay on items such as furniture and machinery, as well.

The Republicans also said they plan to fund two-thirds of Wisconsin school costs, a move they say will ensure schools receive $2.6 billion in federal coronavirus relief money. The GOP didn’t release any details of the plan.

Copyright 2021 The Associated Press. All rights reserved.