MADISON – Today, Representative James Edming (R-Glen Flora) voted in favor of Assembly Bill (AB) 4, which provides an income tax cut for Wisconsin’s hard-working middle class.
“Because of sound budgeting by Republicans over the past eight years, Wisconsin has gone from a $3.6 billion budget deficit to a $588.5 million surplus,” said Rep. Edming. “I believe that one of the best ways to use this surplus is to provide income tax relief for Wisconsin’s hard-working middle class.”
AB 4 provides $340 million in middle class tax relief using a portion of the state’s budget surplus. Under this plan, the proposed income tax cuts are targeted at individuals making under $100,000 and families making less than $150,000 with 88% of the tax cuts going to filers with incomes under $100,000. According to estimates from Wisconsin’s nonpartisan Legislative Fiscal Bureau, a median income family filing jointly would see a $310 tax cut.
“I am proud to vote today to put more money into the pockets of my constituents,” said Rep. Edming. “I believe that continuing to reduce the tax burden on Wisconsinites is an important part of keeping our state’s economy strong.”
During the campaign, Governor Evers shared his support for cutting income taxes for Wisconsin’s middle class. However, Governor Evers’ proposal to pay for this tax cut was by raising taxes on farmers and manufacturers. AB 4 delivers on the governor’s promise to cut middle class taxes without raising taxes on farmers and small businesses in our state.
“Reducing taxes for some taxpayers by raising taxes on others is a tax shift, not a tax cut,” said Rep. Edming. “I believe the best way to provide middle class tax relief is by using the Republican surplus, not by increasing taxes on our farmers and job creators.”
AB 4 now moves on to the State Senate for further consideration.