Madison, WI—Today, Representative Terry Katsma (R-Oostburg) offered testimony in the Assembly Ways and Means Committee regarding AB 386—Returning Your Surplus.
“I am proud to have authored this middle class tax cut focused on returning the surplus to Wisconsin families and retirees,” said Rep. Katsma.
AB 386 lowers the individual income tax rates in the third bracket as well as increases and expands the retirement income subtraction.
“This bill sends $2.9 Billion of your money back to you. The average tax filer will see a tax reduction of $772. I believe that you know how to best spend your money, not Madison bureaucrats,” said Rep. Katsma.
AB 386 has broad Republican support from over 50 State Representatives and State Senators.
“Now, more than ever, we need to get serious about providing real tax relief to Wisconsin taxpayers—the Governor refused to do so doing the budget, so we are giving him another chance to do so now, “ said Rep. Katsma.
AB 386 received a public hearing today as it makes its way through the legislative process before heading to the full Assembly for consideration.
