CONTACT: Rep. Rick Gundrum
Madison – Today, Representative Rick Gundrum (R-Slinger) voted in favor of returning tax dollars back where they belong – the pocketbooks of the hardworking Wisconsin taxpayers. The legislation that passed (Assembly Bill 4/Senate Bill 18) provides $340 million in tax relief, with 75% of the tax cut going to filers earning between $30,000 and $100,000, as cited by the nonpartisan Legislative Fiscal Bureau.
With more workers than ever paying into the system, the state treasury has collected record revenues. The $588.5 million surplus was discussed extensively on the Assembly Floor. Following the passage of AB 4, Representative Gundrum released the following comments on the legislation:
“Today I voted to return the money the taxpayers overpaid – to the taxpayers! The responsible fiscal choices made over the past eight years have put us in the position we are in today with a larger than expected surplus. When government runs responsibly and cuts wasteful spending, combined with a roaring economic environment, you get what we have now – a $588.5 million surplus.
Our state has come a long way from a $3.6 billion structural deficit in 2011 to a $588.5 million surplus to close out 2018. With more revenues coming from record employment numbers, our state has had the ability to address some key priorities as reflected in the budget that was passed last session. This trend can continue as long as we don’t tax our family farms out of business and tax our manufacturers out of the state.
Governor Evers has made a promise to the people of Wisconsin to lower the tax burden on the middle class. In passing Assembly Bill 4, we are accomplishing that objective. Upon approval from the Senate, I sincerely hope Governor Evers keeps his promise to cut taxes for the middle class by signing this legislation into law.”