Madison — Today, Representative Donna Rozar (R-Marshfield) joined fellow Assembly Republicans from around Wisconsin to introduce the “Returning Your Surplus” legislative package.
Governor Tony Evers, through the line item veto process, removed a middle class tax cut from the biennial state budget. Assembly Republicans have now introduced a proposal to cut the state’s tax burden by $2.9 billion by reducing the middle-income tax rate from 5.3% to 4.4%, with the average filer expecting a savings of $772.
“I was extremely disappointed when I saw Governor Evers vetoed the middle class tax cut in the state budget,” said Representative Donna Rozar (R-Marshfield). “Due to his unacceptable action, the hardworking Wisconsin taxpayer is missing out on saving a significant amount of money. In this inflation riddled economy, the state legislature must take every opportunity to keep the American Dream attainable. I am proud to join my colleagues in returning the budget surplus back to the people who have been overtaxed. Those living in the 69th Assembly District and in Wisconsin can spend their money better than any bureaucrat in Madison.”
Additionally, the “Returning Your Surplus” proposal includes retirement income tax relief. Individual filers will be able to exempt up to $100,000 of qualified retirement income, and joint filers will be exempted up to $150,000. This will help those on a fixed income continue to make ends meet and encourage retirees to remain in Wisconsin. Social Security benefits are not taxed in Wisconsin.
The “Returning Your Surplus” proposal will be up for consideration by the Assembly in the near future.