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Yes.

Democratic Gov. Tony Evers has proposed to earmark $600 million of Wisconsin’s large surplus for tax relief. The state Department of Administration’s latest projections place Wisconsin’s surplus at around $6.58 billion.

Evers’ plan includes a 10% tax cut for “working families” — single filers making at or below $100,000 or joint filers making $150,000 and under. The average filer would save $221 a year; the median family of four would get at least a $375-a-year tax cut. If approved, the proposal would add on to the $3.4 billion in tax cuts passed in last year’s state budget.

Republican Assembly Speaker Robin Vos said he wants “significantly” more than $3.4 billion in tax cuts put into the next state budget. Senate Republicans are floating the idea of a flat income tax of 3.5% for everyone. Evers has already vowed to veto it, telling The Capital Times the move would give “tax breaks to people that, frankly, are our highest income folks.” The wealthiest Wisconsinites have a top tax rate of 7.65%.

Sources

State of Wisconsin | Office of the Governor: Press Release: Gov. Evers Announces New Plan to Cut Taxes, Help Working Families Afford Rising Costs, Reduce Barriers to Employment

Wisconsin Department of Administration: Agency Budget Requests and Revenue Estimates

AP News: Vos wants ‘significantly’ more than $3 billion in tax cuts

Milwaukee Journal Sentinel: Senate Republicans want to phase in a flat 3.5% income tax

Wisconsin Watch: Wisconsin Gov. Tony Evers opposes GOP flat income tax cut plan

State of Wisconsin: DOR Tax Rates

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Hope Karnopp / Wisconsin WatchReporting intern

Hope Karnopp joined Wisconsin Watch as a reporting intern in May 2022. She is a journalism major and is pursuing certificates in public policy and environmental studies at UW-Madison. Hope previously covered state politics as an intern for the Milwaukee Journal Sentinel. She also works with the Daily Cardinal and hosts a radio segment about campus news for WORT-FM, which has been recognized by the Milwaukee Press Club.