by Benjamin Yount
Another Republican-driven tax cut has been signed by Gov. Tony Evers.
Evers on Monday signed AB 717, which exempts any and all Restaurant Revitalization grants from state taxes.
“This will ensure that these funds are treated like the Paycheck Protection Loans by making them state-tax-exempt,” Evers said.
Nearly 2,000 restaurants and taverns received a Restaurant Revitalization grant.
“[The grants] total $379 million, so its is a huge step economically for our state and it’s very important for small businesses,” Department of Revenue Secretary Peter Barca said Monday.
As with the other tax cuts that Gov. Evers has signed, the Restaurant Revitalization tax exemption was spear-headed by a Republican.
Rep. Bob Whitke, R-Racine, shepherded the legislation through the Capitol.
“The Restaurant Revitalization Fund was a lifeline for restaurants to help stay in business and retain their employees; it would be a step backward in recovery if we now tax these emergency lifelines,” Whitke said when he delivered the Republican’s statewide radio address on the legislation back in January. “These are the types of bills that go a long way in our districts.”
The governor also signed another law, aligning Wisconsin’s treatment of the net capital loss deductions with the federal government. The new law increases that deduction from $500 to $3,000.
The plan was also written by a Republican, Sen. Van Wanggaard, R-Racine, sponsored that legislation.
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Benjamin Yount contributes to The Center Square.
Photo “Tony Evers” by Governor Tony Evers.
