Wisconsin | April 6, 2021
Evers Pushes $1 Billion Tax Increase
Wisconsin | April 6, 2021
Budgets are about priorities, and Gov. Tony Evers’ budget proposal puts small businesses and the middle class pretty low on the list.
Overall, Gov. Evers’ budget would increase taxes by a billion dollars over the next two years. He would decrease taxes by $536.2 million in other areas. Fees would go up $17.16 million. Evers also believes he can squeeze another $78.03 million through “enhanced tax collections.” Gov. Evers would also make permanent 8 auditor positions at the Department of Revenue to help with those collections. . . .
The Legislative Fiscal Bureau ran a simulation to determine how all these changes would impact individual income tax bills, which include many small business filers.
Of the one billion dollars in tax hikes, $341.9 million would come directly from income taxes. Of the $536.2 million in tax cuts, $123 million would go to income tax cuts.
(Excerpt from MacIverInstitute.)