Assemblyman Calls for More Income Tax Cuts, Simplifications
Republican Rep. Dale Kooyenga wants to more than double Gov. Walker's plan to cut state income taxes.
Kooyenga's proposal could cut Wisconsin's income tax by approximately $750 million in the next two-year state budget, according to the Legislative Fiscal Bureau. Walker's recommendation is $343 million.
The Brookfield Assemblyman is also recommending that Wisconsin eliminate 18 tax credits and reduce its number of income tax brackets from five to three.
The tax rate for people in the highest income bracket would drop from 7.75 to 7.6 percent. For those in the lowest bracket, the rate would slip from 4.6 to 4.5 percent.
Kooyenga serves on the Legislature's Joint Finance committee, which is considering the governor's proposed budget.
The group, One Wisconsin Now criticizes the new tax proposal, stating in a release that the plan would "overwhelmingly benefit the wealthiest in the state."
The business advocacy group, Wisconsin Manufacturers and Commerce released a statement praising the new proposal: "Businesses consistently cite high taxes as a problem in our state.”