According to the Wisconsin State Journal, under the tax cut Gov. Tony Evers signed into law, Wisconsin income taxes will decrease by an average of $3 per month. The average tax cut under the income tax as signed by Evers is $36, or just below 1% of the total net tax owed.
The GOP plan rejected by Evers called for taxes to be cut by an average of $573 or just over 15%. Under that same plan, households earning $60,000–70,000 per year, around the median in the state, would have seen a tax cut of $249. Under the law signed by Evers, it will be $44.
Evers vetoed rate reductions for individuals earning more than $27,630 and couples earning more than $36,840, which left a tax cut only for taxable income up to those levels. Those earning between $30,000–$40,000 will see the largest percentage reduction at 3.4%, or $24. Those earning more than $1 million per year will have the smallest percentage cut at less than 0.1%.
Assembly Speaker Robin Vos has said he wants to override the veto — which is unlikely as Assembly Democrats would have to break ranks and vote with the GOP.
