Madison…Today, Governor Evers vetoed Assembly Bill 4, a bill to provide an income tax cut for middle class individuals and families in Wisconsin. State Representative John Macco (R-Ledgeview), chairman of the Wisconsin Assembly Committee on Ways and Means, released the following statement:
“I am disappointed that Governor Evers failed to provide tax relief to the Wisconsinites who need it most. In drafting this bill, we had taken a great deal of care to ensure that this tax cut would be targeted only toward hard-working middle class individuals and families. Seventy-five percent of the benefit would have gone to taxpayers earning between $30,000 and $100,000 a year,” said Rep. Macco.
“We drafted this bill in a responsible manner. Thanks to the work of former Governor Walker and legislative Republicans over the last eight years, our state finances are in great shape. Wisconsinites are working, state revenues are up and our debt is at the lowest level since 2009. It was important for us to write this bill so that the middle class would receive a tax cut, without raising taxes on local businesses and farmers, who put food on our table,” continued Rep. Macco.
Under AB4, it is projected that the median income family filing jointly would have seen a $310 reduction in taxes per year – approximately, a 10 percent cut in taxes. 63% of Wisconsin taxpayers – nearly 2,000,000 people – would have received a tax cut under this legislation.
“It is unfortunate that Governor Evers has decided not to follow through on his promise and provide tax relief to the hard-working middle class families of Wisconsin,” concluded Rep. Macco.