Madison News

 

Average tax cut under Walker plan put at $177

 Average tax cut under Walker plan put at $177

MADISON, Wis. (AP) _ A new analysis by the nonpartisan Legislative Fiscal Bureau says the average taxpayer who owns a home will save $177 under Gov. Scott Walker's property and income tax cut proposal.

 

The memo released Tuesday comes as lawmakers continue to digest Walker's $504 million tax cut plan he unveiled last week in his State of the State speech.

 

Some Republicans in the Senate are questioning whether to go along entirely with Walker's plan because it will increase the state's projected budget shortfall by about $100 million to $807 million.

 

The memo shows that the average income tax cut for all filers would be $46. The owner of a median-valued $151,000 home would save $131 under the plan.

 

Walker is also updating income tax withholding tables to put more money into paychecks.

 

 

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