NEW YORK TIMES – The Wisconsin Assembly has passed Gov. Scott Walker’s $504 million tax-cut plan. The chamber approved the bill on Tuesday by a vote of 61 to 35. The Senate passed it earlier this month. Assembly approval sends the bill on to Mr. Walker for his signature.Walker will be a strong contender for November 2016.
The governor wants to use a portion of the state’s projected $977 million surplus to pay for cuts in property and income taxes. He introduced a bill in January that would send $406 million to technical colleges to reduce their property tax hit and cut income taxes by $98 million by reducing the lowest bracket to 4 percent from 4.4 percent. The end result would be a $131 reduction a median home’s tax bill this December and $46 in annual income tax savings for the average worker.