MADISON, WI -- Senator Romaine Robert Quinn (R-Cameron) [Tuesday] voted in favor of legislation that will deliver significant tax relief for middle-class earners and retirees in Wisconsin.
The plan is estimated to cut the state’s tax burden by over $2.9 billion – with the average filer saving $772 – by reducing the middle class tax bracket from 5.3% to 4.4%. Additionally, the bill exempts up to $150,000 in retirement account income for seniors over age 67.
“Today’s inflation woes combined with the state’s high tax burden are obstacles for those who are struggling to make ends meet or are on a fixed income,” Quinn said. “Workers and seniors should keep more of what they’ve earned. It’s time to offer relief, especially at a time when the state has billions in surplus because taxpayers paid too much in taxes.”
The bill seeks to ensure that seniors are able to retire in Wisconsin, rather than leaving the state.
“Retirees – our grandmas and grandpas – should be able to stay in Wisconsin to enjoy their grandchildren and all that they’ve worked for,” Quinn said. “The state government should not be taxing them out of their homes or pushing them to retire in other states.”
The legislation passed the State Senate on a vote of 22-10, after having passed the State Assembly last year. The bill will now head to the desk of Governor Evers to be signed or vetoed.
“Governor Evers has unfortunately previously vetoed tax relief proposals that aim to return surplus funds to taxpayers. But it’s their money,” Quinn said. “This bill has addressed the governor’s previous concerns about cutting taxes, so I am optimistic that now he will do the right thing for seniors and middle-income wage earners.”
Romaine Robert Quinn (R-Cameron) represents the 25th Senate District, which includes all of Douglas, Bayfield, Ashland, Iron, Burnett, Washburn, Barron, and Price Counties, and significant portions of Sawyer County.
Last Update: Jan 17, 2024 8:52 am CST
