Stories tagged: "tax cut"
GOP lawmakers want to use the state’s $6.6 billion surplus on tax cuts for the wealthy, but Gov. Tony Evers and Biden’s targeted investments saved the economy during the pandemic and are opening new opportunities in the future.
Hundreds of billions will go toward providing Medicare after capping a tax change so that its benefits are focused small businesses and middle class entrepreneurs.
Senator also again claimed the tax break for pass-through companies is about helping small businesses even though the wealthiest Americans get a huge chunk of the benefits.
The credit does not require proof of job creation and is heavily skewed toward Wisconsin’s wealthiest tax filers.
Already a failure in Kansas, the idea would remove a huge chunk—last year, 46%—of what the state uses for schools, roads, medical assistance, and vital services.
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Justice reform, school funding, and broadband expansion are still in need of action, advocates say.
Republicans heralded their budget as a game-changer due to its focus on cutting taxes, but Democrats were quick to point out missed opportunities to use the state’s historic surplus.