MADISON, Wis. — Hard-working Wisconsinites are beginning the new year with more money in their pockets thanks to Gov. Tony Evers.
Under the withholding table changes directed by Gov. Evers, workers will see less tax withheld from their paychecks, keeping more money in their pockets throughout the year. With these changes, single filers making $50,000 will see $551 more in their paychecks, while a married couple each earning $50,000 will see a combined $1,200 more for their household in their paychecks.
When Gov. Evers first ran for governor, he promised to provide historic tax relief to Wisconsin families. After years of Republican-led tax cuts for the wealthy, supporting working families is the right thing to do. Since taking office, Gov. Evers has not only delivered on his promise to cut middle-class taxes by 10 percent, he exceeded his goal with a 15 percent cut.
Read more about how Gov. Evers is delivering results for middle-class families and small businesses below.
Wisconsin residents will keep more money in their pockets this year after Gov. Tony Evers announced Monday the directive of less taxes to be withheld from people’s pay checks.
Gov. Tony Evers ordered the Department of Revenue to revise its withholding tax tables Monday, which is what affects how much income employers withhold from an employee’s paycheck in taxes.
The governor noted there hasn’t been a revision to the tax tables since 2014.
“Our tax cuts and changes to tax collections mean Wisconsinites will see hundreds of dollars more in their paychecks and their pockets in 2022, and it couldn’t come at a better time as I know so many folks and families are seeing higher prices at the grocery store checkout and as businesses face delays getting supplies and materials,” said Gov. Evers.
As an example, Evers stated that single filers who make $50,000 will see $551 more in their paychecks. A married couple who each earns $50,000 combined will see $1,200 more for their household.
The governor signed $2 billion in individual tax relief to more than 1.6 million Wisconsin taxpayers last year through his biennial budget. Since his time in office, 86% of Wisconsin taxpayers will see an income tax cut of 15% or more. He emphasized that this delivers on his pledge to provide a 10% tax cut to middle class families.
“I’m proud of our work over the last three years to deliver on my promise to cut taxes for working families by 10 percent, including signing one of the largest tax cuts in Wisconsin state history,” Evers continued. “Making sure Wisconsinites have the extra help and support to make ends meet is critically important right now, and this is a great way to ring in the New Year.”
Overall, 2.4 million Wisconsin filers will see tax relief.
Wisconsin residents will reportedly see more money from their paychecks after Gov. Evers announced he told the Department of Revenue to revise withholding tax tables.
Gov. Tony Evers announced that he has directed the Department of Revenue to revise withholding tax tables. This will affect how much income employers can withhold from an employee’s paycheck in taxes. These tables have reportedly not been changed since April 2014.
Under the withholding table changes, workers will see less tax withheld from their paychecks. An example that was provided was: over the course of this year, a single filer making $50,000 will see $551 more in their paychecks. A married couple each earning $50,000 combined will see over $1,200 for their household in their paychecks.