Biennial Budget Process Ongoing
We are at the point in the session where the Joint Committee on Finance has begun voting in executive sessions on individual spending items and categories. These single-subject deliberations and decisions will be incorporated into what ultimately becomes the legislation, consisting of the biennial state budget.
Given the importance of not only the individual allocations but the principle of state budgeting as a whole, working through areas of disagreement and hashing out the details is a prerequisite to finalizing appropriations. Legislative Republicans remain active and committed to passing a budget on time that includes tax relief, funds the state’s priorities, and maintains fiscal stability.
Retiree Tax Reduction Included
My colleagues and I underwent a good faith effort last session to improve Wisconsin’s tax environment for retirees. The plan I introduced and modified three times was ultimately deemed insufficient and vetoed by the Governor.
Fortunately, the Joint Committee on Finance selected this week to include an updated version of the proposal. The plan would exempt retirement income from state taxes up to $24,000 for individuals aged 67 and older and $48,000 for married couples aged 67 and older, provided that Wisconsin is their primary residency.
Creating a level playing field regardless of retirement plan and meaningfully reducing the burden on retirees who invested so much in our state throughout their lives ensures they are able to stay here for their post work years. We recognize the invaluable contributions and wisdom our senior citizens offer to our communities, and we should help them continue to call Wisconsin home.
This moderated proposal benefits our teachers, firemen, laborers, and more who have been unfairly treated by our tax code. I remain optimistic that this proposal will pass the Legislature and bring relief to our retirees as signed law.
New Milestone for Tourism
Travel Wisconsin announced this week that 2024 was another record setting year for tourism in Wisconsin, including a $142 million economic impact in Oconto County and $1.4 billion in Brown County, both record breaking.
Thank you to all of those who work in the industry, showcasing our communities and providing services to the many visitors. Tourism is a boon to local economies and offers exciting opportunities to residents throughout Wisconsin and beyond. It is incredibly encouraging to see these achievements, and I’m excited about what the future holds for Wisconsin tourism. Let’s continue to showcase the beauty and enjoyment of Northeast Wisconsin.
Happy Father’s Day!
This Sunday is Father’s Day, a special occasion that reminds us to thank the men in our lives who have taken on the responsibility of raising children and providing for their families.
Fathers are met with the obligation of imbuing in us the core values we carry into adulthood. The examples they set and the values they instill establish the foundation for success that allows us to live up to our full potential.
They inspire us to better ourselves and to be men and women of good character. Let us take this Father’s Day to express our love and appreciation for the fathers in our lives and recognize the value of fatherhood in our families and communities.
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Contact Me
My office is always available to help with any state-related questions or concerns you may have. You can reach my office at (608) 237-9104, or email me at Rep.Steffen@legis.wisconsin.
