Income taxes in Wisconsin will go down an average of $3 a month under the greatly reduced tax cut Democratic Gov. Tony Evers signed into law after rejecting a much larger cut that Republicans wanted, an analysis released Friday shows.
Income taxes in Wisconsin will go down an average of $3 a month under the greatly reduced tax cut Democratic Gov.
signed into law after rejecting a much larger cut that Republicans wanted, an analysis released Friday shows.on Wednesday is $36, or just under 1% of the total net tax owed, according to the nonpartisan Legislative Fiscal Bureau. Under the GOP plan as passed by the Legislature, taxes would have been cut an average of $573 or just over 15%.Under the Republican plan, households earning between $60,000 and $70,000 a year - roughly the median in Wisconsin - would have seen a $249 tax cut.
Those earning between $30,000 and $40,000 will see the largest percentage reduction of 3.4%, or $24 under the tax cut signed. The roughly 7,600 people earning more than $1 million a year will have the smallest percentage cut, at less than 0.1%, worth just $2 a month, or $24.
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