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"The Governor's Budget Would Increase Net Taxes"
The latest look at Gov. Tony Evers’ budget puts a price tag on just how much the governor hopes to get out of tax and fee increases, as well as new “collections” from the state.
The Legislative Fiscal Bureau released the report Monday.
“In summary, the changes included in the Governor's budget would increase net taxes by $2,223,493,200, and would increase net
fees by $356,301,800,” the LFB wrote. “In addition, it is estimated that measures…to enhance the collection of current taxes would generate an additional $189,420,400.”
“Gov. Evers told all of us during his budget address in February that he was going to cut taxes. Yet, about a month later, we are now finding out the actual truth: Gov. Evers’ budget proposal is irresponsible and unsustainable,” Sen. Patrick Testin, R-Stevens Point, said on Monday. “The good news is Legislative Republicans won’t let that happen and will work hard to craft a fiscally-responsible budget that both addresses our state’s priorities and delivers meaningful tax relief.”
LFB reported that Gov. Evers is proposing 14 different tax increases, and 28 proposed tax decreases.
Some of those tax decreases, like increasing the personal exemption, would cut taxes by over $112 million each year of the new budget. The governor’s budget also includes a proposed $6 million tax cut for people who rely on tips.
But the decreases are dwarfed by the tax increases in Evers’ budget, including a new tax bracket of 9.8% that the governor expects to bring in $719 million next year, and another $578 million the year after that.
Evers is also expecting $116 next year from an increase in car title fees. He’s expecting another $152 the year after. The governor’s budget includes 27 different fee increases.
Republican leaders in the Assembly and Senate have already pronounced most of the governor's budget dead on arrival. Monday’s report is not likely to change their minds.
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