The focus at the Wisconsin Capitol has, so far, been on sending more money to local governments across the state. Assembly Speaker Robin Vos says that’s going to change.
Vos on Friday told News Talk 1130 WISN’s Jay Weber that Republicans are working on a plan to use about $3 billion of Wisconsin’s record $7 billion surplus on tax cuts.
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As the Wisconsin Legislature considers sweeping tax cuts, a new report finds a flat tax would yield substantial benefits for all.
The report, published by the Badger Institute, notes single-rate reform to Wisconsin’s costly progressive tax system would spur faster economic growth, creating more jobs and more investment — all while lowering the burden on Badger State taxpayers.
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State. Senator Brad Zaun’s bill that would reinstate the death penalty in Iowa for those who sexually assault and then murder children survived the Legislature’s famous Funnel Week.
Zaun, R-Urbandale, joined The Iowa Star Monday on NewsTalk 1040 WHO to talk about the legislation and other bills moving forward in the Legislature.
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Wisconsin’s governor says he will 100 percent veto a flat tax, and the top Republican in the State Assembly says he knows that.
Both Gov. Tony Evers and Assembly Speaker Robin Vos talked about the proposal to take Wisconsin to a 3.25 percent flat income tax during appearances on TV over the weekend.
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In his fifth State of the State address Tuesday evening, Gov. Tony Evers began laying out how he plans to use Wisconsin’s $6.6 billion surplus, pitching a spending bender of big government initiatives already with a price tag to date of around $1.3 billion. But there’s more to come. Evers is still constructing his biennial budget plan, set for release in a few weeks.
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Tax reform is top of mind for Republicans this legislative session. But while a flat tax measure has taken center stage, another proposal by one legislative leader to eliminate Wisconsin’s personal income tax has seemingly disappeared from the tax cut discourse.
A new State Policy Network (SPN) survey shows a good deal of support for nixing the state income tax.
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Battered by ongoing high inflation, a majority of Wisconsin businesses see a recession ahead, according to Wisconsin Manufacturers & Commerce’s latest Wisconsin Employer Survey.
WMC’s survey finds 60 percent of businesses believe the Badger State economy is headed for a recession this year. On the surface, the number appears to be an improvement from last summer’s survey when 71 percent of respondents worried a recession was looming. But Nick Novak, WMC’s vice president of communications and marketing, said more employers moved from being sure about a recession to uncertain about the economy.
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Senate Majority Leader Devin LeMahieu (R-Oostburg) and state Representative Rob Brooks (R-Saukville) are set to introduce a tax reform proposal this week that would ultimately phase in a 3.25 percent flat income tax rate by tax year 2026. The measure would make Wisconsin part of a recent “flat tax revolution”, according to a national tax expert.
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by Benjamin Yount Wisconsin’s Senate majority leader says there is plenty of money available to reconfigure the state’s personal income tax rates. State Sen. Devin LeMahieu, R-Oostburg, on Friday said Wisconsin’s record $6.6 billion surplus will help get the state over the hump. “So, for sure in the first…
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Gov. Tony Evers is already taking things off the list of possible compromises at the Wisconsin Capitol.
The governor told WISN TV on UPFRONT that he will not sign a flat tax or universal school choice plan if Republicans send him one.
“A flat tax, if that’s part of the budget, that could end it. If it’s universal school choice across the state for education, that could be a killer too. But we’ll see. I don’t think any of those things are going to happen, so I’m planning on signing a good budget.”
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Georgia lawmakers passed legislation that will gradually drop the state income tax rate over the next few years, a move that proponents say will make the state more competitive.
The state House voted 167-2, and the state Senate voted 41-13 in favor of an amended House Bill 1437. The bill sets the state’s tax level at 4.99% by 2029, starting with a 5.49% flat tax for the tax year beginning Jan. 1, 2024.
The measure, which received broad bipartisan support in both chambers of the Legislature, now heads to Gov. Brian Kemp, a Republican, for his signature. Kemp is expected to sign the bill into law.
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Last year, Arizona enacted historic tax cuts, changing the state’s tax code law to mostly a 2.5% flat tax rate. But opponents collected enough signatures to put an initiative on the ballot this fall, Prop. 307, that would reverse the legislation. In response, Republican state legislators are working with Gov. Doug Ducey to pass legislation that would make the initiative null and void — and maybe implement even more striking tax cuts.
State Rep. Jake Hoffman (R-Queen Creek), who sponsored legislation last year that would have repealed and replaced the historic tax cuts with an even more far reaching 1.5% tax rate, told The Arizona Sun Times, “I told the Governor’s office that the 2.5% tax rate he’s pushing for can only be the starting point. With yet another year of record budget surpluses of nearly $4 billion, the people of Arizona are being overtaxed. We must cut taxes even more during the budget process.”
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The Arizona Free Enterprise Club filed a lawsuit recently against Invest in Arizona over the organization’s attempt to get three referendums on the Arizona ballot that would reverse Arizona’s recently passed tax cuts. The lawsuit contends that since the tax cuts “provide for, and directly relate to, the generation of revenues that are remitted to the general fund and appropriated to various agencies, departments and instrumentalities of the state government,” they cannot be the subject of a referendum and are unconstitutional.
AFEC President Scot Mussi, who is one of the plaintiffs, said, “All three bills directly provide for the support and maintenance of the state, were key aspects of the state’s budget, and therefore are not referable by Invest in Arizona.”
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Arizona Governor Doug Ducey is expected to sign a budget bill the Arizona Legislature sent to him on Friday that includes a historic tax reform package. HB 2900 implements the lowest flat tax in the country, 2.5%. The average Arizona family will see a 13% income tax reduction, about $350 per year. According to the nonpartisan Tax Foundation, Arizona previously had one of the highest marginal income tax rates in the country.
The budget bill also eliminates taxes on veterans’ retirement pay and prevents a 77% increase on small business taxes. It reduces property taxes by 10% on small businesses and job creators by 10%, capping the maximum tax rate on businesses at 4.5% and reducing commercial property taxes. According to a report by Ducey, 43% of Arizonans in the private sector work for small businesses. HB 2900 increases the homeowner’s rebate so the state covers half of homeowners’ primary property taxes.
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PHOENIX, Arizona – Thursday, the Arizona House passed tax reforms to implement a flat tax rate and reduced income tax during the ongoing debate over the budget. With it, they ushered in a $1.9 billion tax cut and lowered taxes to about 2.5 percent.
House Republicans announced their victory early that afternoon.
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GOP gubernatorial candidates Delegate Kirk Cox (R-Colonial Heights), Peter Doran, Sergio de la Peña, and Glenn Youngkin met on Zoom on Thursday evening to answer policy questions about school reform, fixing Virginia’s tax code, improving broadband access, and making Virginia more veteran friendly. The New Mission PAC hosted the forum. PAC founder Daniel Gade and former Delegate Chris Saxman asked the questions in a format designed to allow candidates to demonstrate policy positions without engaging in direct debate.
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