MADISON, WI — State Representative Will Penterman (R-Hustisford) said newly released preliminary revenue figures from the Legislative Fiscal Bureau reinforce the need to revisit the bipartisan taxpayer relief package negotiated earlier this year between the Governor Tony Evers (D) and Republican legislative leaders.

The new figures show Wisconsin’s economy is in good shape. Because of the growing economy, the State collected approximately $450 million more in tax revenue during the last fiscal year than previously estimated, further strengthening the State’s already healthy fiscal position and pushing projected reserves toward $3 billion.

Earlier this year, Rep. Penterman supported a bipartisan Special Session package that would have returned $1.8 billion of Wisconsin’s surplus to taxpayers through direct rebate payments, permanent tax relief on tips and overtime wages, property tax relief, and increased investments in special education. Despite being negotiated with and agreed to by Governor Evers, the package ultimately failed when every Democrat in the Wisconsin State Senate voted no.

“I remain committed to returning the surplus to the hardworking people of Wisconsin who have overpaid,” said Rep. Penterman.

The bipartisan proposal would have provided $300 rebate checks to eligible Wisconsin residents and up to $600 for married couples filing jointly. Additionally, it would have provided property tax relief for homeowners who are feeling the effect of the governor’s 400-year property tax hike. It also would have eliminated the state income tax on tipped income and overtime wages, providing more than $230 million in permanent tax relief for Wisconsin workers.