MADISON, WI (WTAQ-WRN) – The state Senate’s Republican leader releases his flat tax plan.
Majority Leader Devin LeMahieu, who says his goal is to “give everybody a tax cut” using a portion of the state’s projected $6.6 billion budget surplus, released the plan Friday. It would phase in a flat tax of 3.25% over the next three years.
That idea appears widely supported by Republicans in the state Senate and Assembly, but it’s a non-starter with Democratic Governor Tony Evers, who has his own plans for the surplus. Evers has said he’d probably veto any flat tax plan.
Wisconsin’s current progressive income tax has four brackets, ranging from 3.54% up to 7.65% for incomes of $267,000 and up.
Flat tax critics contend it mainly benefits those with higher incomes.
