Just two months after outlining his plan to further slash taxes in Wisconsin, Governor Scott Walker is poised to sign his tax cut into law, which would reduce the cost of government by more than $500 million in the Badger State.
The package, which awaits Walker’s signature after passing the Wisconsin Assembly and Senate, contains the following taxpayer-friendly provisions:
- Income tax reforms
- Reduces the rate for lowest income tax bracket (applying to income up to $10,910) from 4.4 to 4 percent, saving taxpayers $46 per year, on average
- Tweaks withholding rates so that a working class family of four is able to keep an extra $58 per month
- Lowers income taxes for factory and farm owners
- Property tax reforms
- Lowers property taxes by $406 million, saving an average homeowner $101 per year
Thanks to Walker and the taxpayer advocates in the Wisconsin State Legislature, these tax cuts equate to hundreds of extra dollars each year for Wisconsinites who agree that lightening the tax burden is the best way to fuel economic growth, yet, like most Americans, are struggling in the current economic climate.
With Walker’s signature on this half-a-billion dollar tax cut package imminent, the governor has fired up the grassroots, both at home and throughout the country and proven once again that he is a taxpayers’ friend.