Assembly Republicans announce tax cut
MADISON -- Rep. Mark Born, R-Beaver Dam, and Assembly Republicans unveiled a major new proposal Thursday using the state’s budget surplus to deliver $340 million in tax relief for middle class families.
“Through fiscally conservative budgeting over the past eight years, Assembly Republicans are able to continue our efforts to lower the tax burden for middle class families,” said Born. “Similar to Gov. (Tony) Evers’ campaign promise, we are proposing $340 million in tax relief all while leaving the manufacturing and agriculture tax credit in place. Now is not the time to raise taxes on our farmers and manufacturers.”
Last week, Assembly Republicans sent a letter to Evers offering ways to work with the new governor on shared priorities. The tax plan put out is one example of a shared priority being addressed and worked through in a bipartisan way.
“This is a great example of how we can work together during divided government,” Born said. “I look forward to finding more ways to work with Gov. Evers to help our families and state move forward.”
The proposed tax reductions are targeted to individuals making less than $100,000 and families earning $150,000 or less. The nonpartisan Legislative Fiscal Bureau projects the median income family filing jointly would see a $310 reduction in net taxes.