Gov. Tony Evers announced new details of his proposal to cut taxes by more than $1.2 billionin the next two-year state budget on Sunday as Wisconsin’s budget surplus has topped $7 billion.
Evers first proposed the tax cut last August that includes a 10 percent state income tax cut for the middle class. Individuals making less than $100,000 and married couples or joint-filers making at or below $150,000 would benefit from the proposal. Evers said the proposal would provide $839.6 million over the budget for low- and middle-income residents with an average cut of more than $200 annually for 1.9 million filers.
“I’ve said all along that we’d deliver real, responsible tax relief targeted to the middle class and working families — not spending big on breaks for the wealthiest 20 percent of earners in our state who don’t need the extra help affording rising costs,” Evers said in a news release.