![]() ![]() The tax has been whittled away since it was first implemented in 1849, leaving a levy now only applied to furniture and other miscellaneous office fixtures. Evers vetoed the measure.ĭozens of Wisconsin's business lobbying groups including the Alliance of Wisconsin Retailers, Associated Builders & Contractors, Metropolitan Milwaukee Association of Commerce and Wisconsin Newspaper Association have long supported the effort to eliminate repealing the personal property tax that members pay on equipment. Meanwhile, Republicans are recirculating a bill that was passed during the last legislative session that would eliminate taxes on business property. "If someone is going to spend six months and a day somewhere it is better to have them in Wisconsin than somewhere else," Vos said. Republicans who control the state Legislature over the past decade have focused their income tax rates on the middle brackets but largely left in place the top rate, which is levied on individuals for income of $267,000 and up.Īssembly Speaker Robin Vos has also signaled he would support the flat tax, making the argument that Illinois asked voters if they prefer a progressive tax, which Wisconsin currently has, or flat tax and they chose the latter. ![]() Wisconsin’s income tax rates start at 3.54% and rise to 7.65%. LeMahieu told the conservative MacIver Institute last month he is working on a plan that would phase in a flat tax over two to four years, moving the state's income tax rates down to the state's bottom tax rate of 3.54%. "We have an opportunity with the surplus that we can provide transformational tax cuts, if that goes beyond changing the tax code, that would be great," LeMahieu said. ![]() 3, LeMahieu said he would like to see a portion of the state's $6.6 billion budget surplus used to give everyone a tax cut. Opponents of the flat tax say it benefits the rich, but during an interview Jan. Tony Evers, who is promoting a separate plan to cut income taxes by 10% percent for the middle class. The proposal is similar to one floated by Republicans in the past, but will likely be blocked by Democratic Gov. Wisconsin Senate Majority Leader Devin LeMahieu is expected to introduce a plan this week that would create a 3.5% flat tax. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |