Two Million Taxpayers Would Receive Tax Cuts Under GOP Bill

But Evers will still veto it. It’s his money… not yours, don’t you know?

More than 2 million taxpayers would see a tax cut from a Republican passed bill in the Wisconsin legislature, according to an analysis from the Center for Research on the Wisconsin Economy (CROWE).

“We find it would reduce taxes for about 2 million taxpayers and reduce state tax revenue by about $200 million, so the reduction per affected taxpayer is about $100,” the CROWE study found. “Low-to-middle-income taxpayers would benefit the most. Moreover, the expansion would reduce the effective marginal tax rates (MTR) and thus provide work incentive for some low-to-middle-income taxpayers, although it would also raise the effective MTR and thus reduce the work incentive for some relatively high-income taxpayers.”

The state Senate and Assembly both passed the tax-cut package Thursday on largely party-line votes.

Gov. Tony Evers opposed the cuts, but has not said if he will sign or veto the bill.