Income tax credits paired with numerous tax increases
CONTACT: Mike Nichols, Badger Institute president, at 414-225-9940 or at Mike@badgerinstitute.org.
March 21, 2019 — The Tax Foundation, which partnered with the Badger Institute to publish the recently released Wisconsin Tax Options: A Guide to Fair, Simple, Pro-Growth Reform, posted an assessment today of the various tax proposals contained in Gov. Tony Evers’ budget. The analysis examines changes to the individual income tax, business taxes, sales taxes, excise taxes and transportation taxes.
By Katherine Loughead
With the release of his first biennial budget, introduced as Senate Bill 59, Wisconsin’s new Governor Tony Evers (D) has proposed dozens of miscellaneous tax changes. While the budget offers targeted income tax cuts for certain low- and middle-income taxpayers, these cuts are far outweighed by tax increases elsewhere, such as business taxes and excise taxes. Taken as a whole, these changes would make Wisconsin’s tax code more complex and less neutral, missing an opportunity to provide tax relief within the context of pro-growth structural reform.