MADISON, Wis. — A Republican tax scheme on the fast track in the State Assembly is the latest in a series of proposals skewed to send most of the benefits to the wealthiest, according to a report on an analysis from the Institute on Taxation and Economic Policy (ITEP). The plan – introduced yesterday, receiving a public hearing today – will, according to Speaker Robin Vos, be voted on by the Assembly in early September.
“There they go again,” commented A Better Wisconsin Together Communications Manager Lucy Ripp. “State legislative Republicans are back from their summer vacation pushing a recycled tax giveaway doomed to fail while refusing to work together with Gov. Evers and Democrats on challenges like the worsening child care crisis, family and medical leave for Wisconsin’s workforce or even a real middle class tax cut.”
As reported, the ITEP study projects the top one-fifth of state taxpayers, with an average income of over $300,000 annually, would reap roughly two-thirds of the benefits with over 25% of the nearly $3 billion in estimated tax reductions going to the wealthiest 5%.
As part of their earlier 2023 state budget plan, legislative Republicans pushed a tax plan that would have sent roughly 25% of the savings to the top 1%, Wisconsinites with incomes over $500,000 per year. Under that plan, just eleven Wisconsin taxpayers would have seen an astounding windfall of $1.8 million a piece.
While pushing their reckless tax schemes Republicans are ignoring other top priorities for state residents. Gov. Tony Evers has called on legislators to convene in a “second chance” special session in September to address a number of pressing issues ignored by Republicans in the state budget including:
- State investments to help with the crisis of child care access and affordability;
- Establishing a state family and medical leave program;
- Funding for University of Wisconsin system operations and for projects like a new engineering building at UW-Madison;
- Additional technical college funding;
- Additional financial aid for eligible students to help address the student loan debt crisis with;
- Initiatives to address health care worker and teacher shortages.
Call your legislator today at 1-800-362-9472 and demand they end the distractions and prioritize the issues that everyday Wisconsinites care about.
