Legislative Republican Leaders Seek at Least $3 Billion in Tax Cuts

GOP leaders told party activists today at the Republican state convention they plan to cut income taxes for Wisconsinites by at least $3 billion as they wrap up work on the state budget.

Senate Majority Leader Devin LeMahieu and Assembly Speaker Robin Vos told reporters following the announcement that they aim to meet on Monday to discuss the proposal, which would reduce all four of Wisconsin’s tax brackets.

The top rate is 7.65 percent, which kicks in for income above $374,600 for married joint filers. Dem Gov. Tony Evers has previously said he opposes lowering the top rate.

The announcement comes on the heels of the GOP-controlled Joint Finance Committee approving an education package that would allow school property taxes to go up by $647 million over the next two years.

“The one thing that unites Republicans is the idea that government has too much money, and I think that’s one thing to end on,” Vos said.

The leaders made the announcement during a panel discussion today with former GOP Assembly Speaker Mike Huebsch, who served as Administration secretary under former Gov. Scott Walker.

LeMahieu during the panel said as budget sessions finish up, the state still has enough money to provide major tax cuts.

“So I look forward to putting another tax cut on the governor’s desk. Hopefully he signs it again,” he said.