Madison – Today, the Joint Finance Committee wrapped-up action on the 2019-21 state budget by voting to reduce income tax rates by more than $450 million and invest $58 million in property tax relief for Wisconsin homeowners.
“This plan provides significant tax relief to the hard-working families in Wisconsin,” stated Sen. Devin LeMahieu (R-Oostburg). “The tax cut approved today by the Joint Finance Committee brings Wisconsin’s bottom two income tax rates to their lowest levels since 1985.”
The Joint Finance Committee accomplished this tax cut without shifting the tax burden to others or expanding welfare. In previous action, the committee voted to reject more than $1 billion in proposed tax increases.
Today’s votes for tax relief conclude the Joint Finance Committee’s work on the 2019-21 state budget. Key highlights of the Legislature’s budget plan include the following:
- Investing in students: $500 million for K-12 schools; key maintenance/infrastructure improvements for UW System schools.
- Investing in worker training: $25 million for technical education; $11.5 million for youth apprenticeship and worker training grants.
- Investing in care for the vulnerable: $71 million for nursing home reimbursements; $91 million for personal care workers; $66 million for family care workers.
- Investing in transportation: Funding for Highway 23 expansion; $155 million for local roads; $312 million increase for the state highway rehabilitation fund.
“The Legislature entered this process with a healthy surplus thanks to our smart fiscal choices and a strong economy. The budget approved today by the Joint Finance Committee invests in core priorities like education, healthcare, and transportation while still cutting taxes for Wisconsin families,” concluded LeMahieu.
Senator Devin LeMahieu (R-Oostburg) represents the 9th Senate District, which includes portions of Sheboygan, Manitowoc, and Calumet Counties. He is a Member of the Joint Committee on Finance.