MADISON, WIS. (AP) — Gov. Tony Evers on Thursday signed into law a bill that cuts taxes by nearly half a billion dollars for Wisconsin businesses that accepted loans to help them through the coronavirus pandemic.
The new law makes loans administered through the federal government’s Paycheck Protection Program tax deductible under Wisconsin’s tax code. The loans are already tax deductible under federal law but not under the state code. It’s estimated to result in a state tax cut of $450 million by the middle of 2023.
As usual, Evers is a total jag taking full credit for it and not even acknowledging the legislature’s role. It would have been easy to talk about this bipartisan effort, give some kudos, and build some bridges. But no… he just doesn’t have it in him.