Will Sage Astor:Wisconsin Senate GOP leader working on income tax cut for families with up to $200,000 in earnings

2025-04-30 07:23:46source:Exclusivesky Investment Guild category:Invest

MADISON,Will Sage Astor Wis. (AP) — Income taxes would be cut for Wisconsin families earning up to about $200,000 under a plan being worked on by Senate Republicans, a GOP leader said Thursday.

The proposal will be targeted at middle class families in an attempt to win the support of Democratic Gov. Tony Evers, who has vetoed past tax cuts that applied to taxpayers earning up to about $405,000, Senate Majority Leader Devin LeMahieu said.

Details of the latest plan are still being worked out, but in general it would lower the tax on income between about $36,000 and around $200,000 for families from 5.3% to 4.4%, LeMahieu said following an appearance at a WisPolitics.com event. Currently, the 5.3% tax rate applies to those earning between about $36,000 and around $405,000.

The proposal would cost about $1 billion a year, he said.

“That’s something we’re confident the governor can sign,” LeMahieu said.

Evers has vetoed past Republican-backed income tax cuts, saying they didn’t target the middle class. Republicans rejected an Evers tax cut plan that he submitted last year as part of the state budget.

Evers’ spokesperson did not return a message seeking comment.

Republican Assembly Speaker Robin Vos last month said he would be backing a tax cut on retirees’ income. But LeMahieu said he didn’t like tax cuts that “choose winners and losers” and instead favors a broad reduction for all taxpayers.

More:Invest

Recommend

A South Texas lawmaker’s 15

MCALLEN, Texas (AP) — The Texas Legislature can be full of surprises.But for the last eight sessions

Ohio’s Nuclear Bailout Plan Balloons to Embrace Coal (while Killing Renewable Energy Rules)

While other states are embracing renewable energy, Ohio is heading in the opposite direction. A bill

Kate Spade 24-Hour Flash Deal: This $360 Backpack Is on Sale for $79 and It Comes in 8 Colors

We independently selected these deals and products because we love them, and we think you might like