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CONLEY COMMENTARY (WSAU) – $1.8-billion of the state’s $2.5-billion surplus was spent yesterday.
If you pay income tax in Wisconsin, you’ll get a $300 rebate. It’ll be $600 if you’re married and file jointly.
To me, that’s too small a check to see the state’s surplus evaporate.
A deal between Governor Tony Evers and Republicans who control the legislature will do other things. The state will dramatically increase school funding, including covering half of all special education expenses by the end of 2027. There is additional money for school districts and technical colleges – something to keep in mind if they have the audacity to raise property taxes next year. The agreement also does away with state taxes on cash tips and overtime, a change that the federal government already made in the last tax cycle.
There are some liberals who don’t like the deal either. Kelda Roys, a state senator who is running for governor, calls this an election year bribe. It is a one-time payment. She wants structural changes to the state’s school funding formula.
I’d like to get more of my money back. A surplus, by definition, is the amount that you and I were overtaxed. Just a year ago Republicans were working on more ambitious plans: A $700 rebate and a phased-in plan to eliminate the state income tax. With yesterday’s deal, the GOP has settled for something much, much smaller. They’ll tell you it’s better than nothing, and these are the types of deals you need to make when Tony Evers is governor.
The state legislature will go into special session next week, where they will pass this proposal. The Governor will sign it.
Enjoy your 300-bucks.
Chris Conley
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