REP. JOHN MACCO REP. TERRY KATSMA
Madison…The United States Senate passed the “Tax Cuts and Jobs Act” this past Saturday. This bill marks the largest reform of our tax code in 30 years. The Wisconsin Assembly Committee on Ways and Means Chairman John Macco (R – Ledgeview) and Vice-Chair Terry Katsma (R – Sheboygan) released the following statement:
“Our tax code is FINALLY starting the modernization process after nearly three decades of stagnation,” said Chairman Macco. “This plan cuts taxes, eliminates special interest carve-outs, simplifies and modernizes our tax code for a 21st century economy. This tax plan will benefit folks all over Wisconsin and put greater pressure on our need to modernize Wisconsin’s own tax code.”
The bill will now head to conference with the United States House of Representatives. From there it is expected that it will be passed and signed into law by Christmas of 2017.
“This is the tax reform that businesses and constituents all over Wisconsin have been asking for,” continued Vice-Chair Katsma. “We need to take this as an opportunity to work in Wisconsin to federalize and simplify our tax code. With innovations in online commerce, service-based economies and wealth distribution, this tax plan puts taxpayers from across the country in the driver’s seat.”
The Assembly Committee on Ways and Means has begun the process of reforming Wisconsin’s tax code with the creation of four new subcommittees focused on looking at every aspect of Wisconsin’s tax code. Go to WIWaysandMeans.com to find out more!