MacIver News Service | June 17, 2013
[Madison, Wisc…] The Joint Committee on Finance approved a budget in the first week of June that includes a $648 million income tax cut. The plan will decrease rates for all tax brackets, and reduce the amount of brackets from five to four. Rep. Dale Kooyenga (R-Brookfield), a key author of the proposal, has told the MacIver Institute that this is just a first step in tax reform for the state, and he hopes to continue to lower taxes in future budgets. Even with the tax cut passed in JFC’s version of the budget, most taxpayers in Wisconsin will pay a higher income tax rate than millionaires in Indiana, Illinois, and Michigan.