(Alexandria, VA) -- Taxpayers will have something to applaud early next week, as Governor Scott Walker prepares to sign a significant tax cut plan into law. The non-partisan National Taxpayers Union lauds the Wisconsin Governor’s efforts to further reduce government’s burden on taxpayers, on behalf of over 7,800 members in the Badger State and taxpayers throughout the country.
“Governor Walker and the Wisconsin legislature have the thanks of not only the state’s taxpayers, but those throughout the country for the example they have set with their swift passage of this common sense tax relief,” said NTU State Affairs Manager Lee Schalk. “Wisconsin’s economy will continue to benefit from the prudent fiscal leadership demonstrated by putting $500 million back into the pockets of middle class families and home owners.”
Just two months after outlining his plan to further reduce 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 $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
Schalk concluded, “With Governor Walker’s signature on this half-a-billion dollar tax cut package imminent, he has fired up the grassroots, both at home and throughout the country and proven once again that he is a taxpayers’ friend.”