MADISON – Today, legislative Republicans introduced legislation to create a flat tax of 3.25% in Wisconsin. Senate Democratic Leader Melissa Agard (D-Madison) released the following statement:
“Wisconsinites rejected a flat tax when they re-elected Governor Evers with an even larger margin than in 2018. It’s clear that people do not want these outdated trickledown economics that have shown to be a policy failure time and time again. A flat tax is highly regressive and would overwhelmingly benefit the richest people in our state. It is shocking that Republicans believe we should be giving millionaires a $2.5 billion dollar tax cut at the expense of needed services. Under this policy, anyone making over $1 million dollars per year would see an average annual state tax reduction of $112,167 when fully phased in.
“A memo from the non-partisan Legislative Fiscal Bureau also shows that this policy would create a $5 billion dollar shortfall in revenues for our state. So for those keeping score – that’s more money for millionaires and less for our public schools, roads, and health care. Senate Democrats will resoundingly reject this flat tax scheme.”