Armstrong Votes To Return $2.1 Billion To Wisconsin Taxpayers

Madison, WI – The Wisconsin State Assembly has voted to return $2.1 billion of Wisconsin’s budget surplus to taxpayers. State Rep. Dave Armstrong (R-Rice Lake) voted for each proposal in the four-bill package.

“Wisconsin enjoys a budget surplus thanks to responsible, conservative budgeting,” Representative Armstrong said. “If Governor Evers had had his way with the last two state budgets, there would be no surplus. In fact, taxes would have had to go up to fund his spending sprees.

Republicans know that surpluses happen when governments tax you too much, while Democrats think it means governments aren’t spending enough of your money.”
The package includes the following proposals:

• Assembly Bill 1020 expands the second tax bracket (4.4%) to households making up to $150,000, up from $38,190. AB 1020 returns $1.2 billion to Wisconsin families.
• Assembly Bill 1021 increases the exemption for retirement income to $75,000 for single seniors and $150,000 for married couples. AB 1021 eliminates taxes on retirement income for 93% of Wisconsin’s seniors and reduces taxes for the other 7%.
• Assembly Bill 1022 increases the maximum married persons credit from $480 to $870. This reflects inflation since the credit was first created in 2001.
• Assembly Bill 1023 increases the state childcare tax credit to 100% of the federal childcare tax credit and increases the expenses used to calculate the state credit from $3,000 to $10,000 for one child and from $6,000 to $20,000 for two more children. These increases more accurately reflect what Wisconsin families pay for childcare and will save Wisconsin taxpayers about $73 million per year.

“Legislative Republicans have consistently supported tax relief for Wisconsin families,” Representative Armstrong said. “Governor Evers has just has consistently rejected relief. With the legislative session almost over, I hope the Governor takes this opportunity to finally do the right thing for the people of this state.”

During the same floor session, the Assembly passed Assembly Bill 627, a proposal Representative Armstrong introduced to update Wisconsin’s Business Development Tax Credit and reward job retention and capital investment, not just job creation. AB 627 and the tax package will now go to the Senate for further consideration.