Madison – Governor Scott Walker released his Weekly Radio Address today titled “Keeping Our Tax Relief Promise.”
Hi, Scott Walker here.
When I ran for re-election, I made a promise that taxes in Wisconsin would be lower in 2018 than they were in 2010.
This budget delivers on that promise. Property taxes on a median-valued home will be lower in 2018 than they were in 2010 if our plan is approved by the lawmakers.
Plus, we eliminate an entire tax. For the first time since 1931, there will be no state tax on your property tax bill. That is, again, as long as lawmakers approve our state budget.
With the new tax relief included in our budget, the cumulative impact of our tax cuts is $8 billion. That’s right – $8 billion.
This budget continues to lower property taxes, eliminates the state portion of the property tax bill, fully implements the manufacturing and agriculture production tax credit, provides working families with a sales tax holiday on school supplies and clothing, and cuts income taxes.
The cumulative effect has a significant impact on Wisconsin families. From 2010 to 2018, the typical family in Wisconsin will see savings of over $1,500 in income taxes alone. And property taxes for the average homeowner are lower today than they were when we first took office. Our state and local tax burden is also the lowest it’s been since 1962.
This is great progress. In fact, according to the U.S. Census Bureau, Wisconsin outperformed 43 other states in lowering our tax burden over the last five years. The additional $592.7 million included in our budget keeps tax relief a priority and continues to drive down taxes even further.
At the same time, our Reform Dividend invests in our top priorities, like student success, accountable government, and rewarding work.
Wisconsin’s economy is strong, and coupled with our dramatically improved state budget, the future of our state is bright.