Madison News

 

Wisconsin Assembly approves tax cut plan

 Wisconsin Assembly approves tax cut plan

MADISON, Wis. (AP) _ The Wisconsin Assembly has passed Gov. Scott Walker's $504 million tax cut plan.

 

 

 

The chamber approved the bill 61-35 Tuesday. The Senate passed it earlier this month; Assembly approval sends the bill onto to Walker for his signature.

 

 

 

Walker wants to use a portion of the state's projected $977 million surplus to fund property and income tax cuts. 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 from 4.4 percent to 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.

 

 

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