Legislative committees to hold hearing on GOP tax cut plan
MADISON, Wis. (AP) — The public will get a chance to sound off on Wisconsin Republicans’ income tax cut plan during a hearing at the state Capitol.
The Assembly’s Ways and Means Committee and the Senate’s Agriculture, Revenue and Financial Institutions Committee are set to hold a joint public hearing on the bill Tuesday afternoon.
The proposal calls for increasing the state income tax maximum deduction by 20.6 percent for single people making less than $127,000 and for joint filers making less than $155,000. The bill is estimated to cost the state $495.6 million over the 2019-21 biennium. Republicans want to fill that hole with money from the state’s surplus.
Democratic Gov. Tony Evers has proposed cutting income taxes as well but wants to cover it by capping tax breaks for manufacturers and farmers.