Madison–Today Governor Walker’s office kicked off a series aimed at highlighting what policies will not be contained in his budget proposals. The policies highlighted in this series were implemented in the past and led to the current $3.6 billion budget deficit.
Governor Walker’s budget proposals will not contain a tax increase. Below is a partial list of tax increases enacted in past budgets:
· Income tax—cost taxpayers an estimated $287 million
· Capital gains tax—cost taxpayers an estimated $242 million
· Retail tax—cost to taxpayers an estimated $10.7 million
· Tobacco tax—cost to taxpayers an estimated $335 million
· Landline phone tax—cost to taxpayers an estimated $107 million
· Energy tax—cost to taxpayers an estimated $18.2 million
· Food tax—cost to taxpayers an estimated $371,000
· Garbage tax—cost to taxpayers an estimated $69 million
These tax increases were signed into law at a time when Wisconsin’s economy was contracting, businesses were hurting and Wisconsinites’ paychecks were shrinking.
“After years of tax increases, Wisconsin residents, families and job creators need reprieve,” said Governor Walker. “Keeping money in the hands of people, who will make wise spending decisions and reinvest in the private sector, will ultimately lead to economic growth and job creation. Fiscal restraint and relief from tax increases will ensure Wisconsin has the economic climate that allows the private sector to create 250,000 new jobs by the end of my first term.”