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Talk of Tax Rebate
Republicans at the Wisconsin Capitol continue to talk about giving taxpayers their money back.
The state’s Legislative Fiscal Bureau on Thursday said tax collections continue to come-in higher than expectations. The Fiscal Bureau said the state collected $23.1 billion in tax revenues for the 2025-26 fiscal year. That's a 3.4% increase from last year, and is 2% more than what lawmakers expected.
The extra money will drive Wisconsin's state budget surplus to over $3 billion.
Assembly Republican budget architect Rep Mark Born, on Thursday said the extra money should revive talks to return that money to taxpayers.
"The Assembly acted in May, and I remain ready to come back to Madison and vote again," Born said in a statement. "If we can reach an agreement that delivers meaningful tax relief for Wisconsin families and can pass both houses, I’m ready to get it done."
Republicans in the Assembly voted in May to directly return $850 million to taxpayers though either $300 or $600 rebates to taxpayers. Republicans also agreed to spend hundreds of millions of dollars more to "buy down" property taxes. There was also more money included for public schools. But the plan died in the State Senate when a handful of Republicans, and every single Democrat, voted against it.
Senate Republican budget architect, Sen Howard Marklein, on Thursday said that was a missed opportunity.
"I remain disappointed that we did not pass the bipartisan agreement to return money to hardworking taxpayers, reduce property taxes, and help our schools. Our families and taxpayers could use the relief now."
Democrats at the Wisconsin Capitol back in May said they didn't want to vote for a package that would spend some of the state's surplus, because they weren't sure Wisconsin would continue to see higher-than-expected tax collections in the future.
Those Democrat leaders were silent on Thursday about the latest tax collection numbers.
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