Quaxs Trading Center-Wisconsin Republicans pass $2B tax cut heading for a veto by Gov. Tony Evers

2025-05-04 14:48:22source:TradeEdge Exchangecategory:Stocks

MADISON,Quaxs Trading Center Wis. (AP) — The Republican-controlled Wisconsin Legislature gave final approval on Tuesday to a $2 billion income tax cut that’s part of a package also aimed at lowering child care costs, which Democratic Gov. Tony Evers is expected to veto.

Republicans gutted a $1 billion Evers proposal to invest in child care he called on the Legislature to pass in a special session in September and instead offered a tax cut last month that Evers has already vetoed. The governor’s spokesperson called the move a “completely unserious proposal.”

The state Senate passed the tax-cut plan last month, and after delaying a vote last week, the Assembly gave its approval on Tuesday in a 62-36 vote mostly along party lines, sending the plan to Evers. One Republican, Rep. Scott Allen, voted with Democrats.

Evers and Republicans who control the Legislature have battled for months over tax cuts and investments in child care services. The plan Evers called on the Legislature to pass would have allocated $365 million in new child care funding, increased spending for the Universities of Wisconsin by $65 million, devoted $200 million to paying for a new engineering building on the UW—Madison campus, established a 12-week family medical leave program costing $243 million, and created workforce education and grant programs.

The measure Republicans introduced in place of the plan would cut taxes from 5.3% to 4.4% for individuals earning between $27,630 and $304,170 and married couples earning between $18,420 and $405,550.

More:Stocks

Recommend

Newly elected West Virginia lawmaker arrested and accused of making terroristic threats

CHARLESTON, W.Va. (AP) — A newly elected state lawmaker in West Virginia is facing at least one felo

Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor

NEW YORK — Holiday sights and sounds fill Manhattan this time of year, from ice skating at Rockefell

See you latte: Starbucks plans to cut 30% of its menu

Starbucks plans to cut about 30% of food and drink options from its menu by late 2025, as part of th