Returning Your Surplus
Happy Wednesday! I have some exciting news to share. Yesterday, I, along with my Republican colleagues, participated in a news conference announcing a proposal that provides over $2.9 billion in tax cuts for the middle class and retirees. This plan also includes a constitutional amendment that will make it harder to raise taxes in the future.
The main focus of this proposal is to deliver major tax relief for the middle class (third bracket) and retirees. The third bracket includes the income of single filers between $27,630 and $304,170 and married joint filers between $36,840 and $405,550, reducing the income tax rate on income in the third bracket from 5.3% to 4.4%. The average filer will see a decrease of $772 each tax year. In addition, Wisconsin residents who are 67 years of age or older qualify for an income tax exemption on their retirement accounts. For individual filers, $100,000 of retirement account income is exempt, and $150,000 for married joint filers. These changes will apply to the 2023 tax year. Lastly, the package includes a constitutional amendment that would require a 2/3rds “supermajority” vote of the legislature to raise taxes in future years.
Our priority with this legislation is to return the money we’ve over collected back to the taxpayers. It has no business remaining in the hands of the government and instead will be returned to the hardworking, middle-income earners of the state. The next step with the “Returning Your Surplus” proposal is for it to receive a public hearing before becoming available for consideration by the full Assembly.
Senate Committee on Universities and Revenue
Last week, Kevin, a constituent of mine, came to the Capitol to testify on SB 95 in the Senate Committee on Universities and Revenue. I decided to write this legislation after Kevin reached out, concerned that his daughter’s need-based college financial aid package had been reduced after UW-Madison found out she had received a separate private scholarship. This bill bans the practice of scholarship displacement for “last-dollar” scholarships by the UW system, tech colleges, and private, non-profit colleges, with a few exceptions.
Also, thank you to the Wisconsin School Psychologists Association for coming last week to testify on SB 241, a bill I wrote that creates a school psychologist loan forgiveness program that models the program for teachers. This will incentivize students to go into this field, which would improve Wisconsin’s student-to-school psychologist ratio of 815:1 (the goal is 500:1) and, thereby, create better mental health treatment access for WI youth.
Lastly, I testified on SB 229, which I wrote with Sen. Cabral-Guvera. This bill would freeze property taxes for retirees, so they can better anticipate their expenses in retirement and won’t be forced out of their homes due to rising taxes. The bill is modeled after current legislation for disabled veterans, where you would still pay property tax to the local municipality, but it would create a tax credit on your income tax return.
Great Turnout at the St. Clare Picnic!
In-District Events
September 2nd and 3rd will be the Kite Festival at Two Rivers High School from 11 a.m. to 4 p.m. both days.
The first annual Heiknbrew will be Friday, September 8th, from 5 p.m. to 8 p.m. at 3000 Hawthorne Ave. in Two Rivers. For more information regarding this event, visit https://www.
Saturday, September 9th, will be the Firefest at the Wayside Volunteer Fire Department from 1 p.m. until 11:30 p.m.
Saturday, September 9th, will be the Tisch Mills 12th Annual Fireman’s Fall Festival at the Tisch Mills Fire Station. Food and drinks will begin at 4 p.m., with music performing from 7 to 11 p.m.
