FOR IMMEDIATE RELEASE January 17, 2019
CONTACT: Rep. Patrick Snyder (608) 266-0654
Central Wisconsin legislators lay out plans for budget surplus, middle class family tax cuts
Wausau…Today, Representative Pat Snyder, along with other Central Wisconsin legislators, unveiled a major new proposal giving tax cuts to middle class families, allowing Wisconsinites to keep more of their hard-earned dollars. Using the recently reported budget surplus, the proposal delivers $340 million in tax relief for middle class families.
“Due to the strong state of Wisconsin’s economy and prudent fiscal management, middle class families are getting a well-earned break,” Rep. Snyder said following a press conference at 2510 Restaurant. “With extra money from the budget surplus, we are continuing to reduce the tax burden on Wisconsin citizens, without increasing taxes on our local farms or businesses.
“In the past week, my colleagues and I sent a letter to Governor Evers offering ideas for policy items we can find common ground on; Assembly Republicans invited Governor Evers to address the caucus, which happened Tuesday; and I had the opportunity to meet individually with Governor Evers. This initiative is another policy item that we can find common ground on; it helps Governor Evers to fulfill an important promise, while giving the Assembly and Senate an opportunity to continue our work of easing the tax burden on hard-working Wisconsin families.”
The proposed tax reductions are targeted to individuals earning less than $100,000 and families earning less than $150,000. The Legislative Fiscal Bureau, a nonpartisan service agency, projects that a median income family filing jointly will see a $310 reduction in net taxes.
Rep. Snyder added, “I am excited to work with my colleagues in the Senate, Assembly and executive branch to bring this proposal to fruition”
The Assembly is working with the Senate to finalize the legislation, which could be introduced as early as next week. Once the tax cuts are approved, they would take effect next year.