MADISON, Wis. — 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. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.
