WAUSAU, Wis. (WSAU) -- Governor Scott Walker continues to tour the state promoting the recently signed tax credits funded by the billion dollar surplus.
Walker stopped at the Wausau Chamber of Commerce, where he says he would like to cut taxes ever more. “My goal four years from now in 2018 is to have that year’s tax bill for a typical homeowner be less in 2018 than it was in December of 2014, which means it will be less than it was in December of 2010. That’s a tremendous turnaround. I think that’s helpful, because it will help more people live their piece of the American dream here in the State of Wisconsin.”
The Governor says the income tax part of the relief was designed to help more of those at the lower end of the income brackets. “We added more income tax relief in this latest proposal, particularly for the lowest income tax bracket to make sure we don’t leave anybody behind in this recovery, so that everyone who wants a job can find a job, and we don’t leave anybody behind in the recovery.”
Starting next month, Walker says workers will see an additional change that has an immediate effect. Withholding rates are going down, meaning more take-home pay. “Next Tuesday on April 1st, no fooling, April 1st, we’ll start changing withholding in this state so much so that a typical working family (of four) two adults and two kids, will literally see an extra $522 in their paycheck between now and the end of the year.”
When asked about a report showing Wisconsin individual income not rising as quickly as some other nearby states, Walker says the latest wage figures actually show improvement through September when the survey period ended. “What they saw in terms of wages is that we were in the top ten in terms of wage increases on an average weekly basis across the country, both overall and in the private sector, so I think it’s a good sign for us in the latest report that sees us heading in the right direction.”
One way Walker says Wisconsin can get individual wages to rise is to get people trained for the high-tech jobs that pay well and don’t have enough qualified applicants. “For a state that is so heavily dependent on manufacturing, there’s been a lag in terms of wages in manufacturing catching up in the past decade or so. That’s all the more reason why the Blueprint for Prosperity is so important, to put more money into finding highly skilled and training highly skilled would-be employees because that’s where the wage increase is going to be.”
Wisconsin Act 145 provides $406 million in property tax relief, or an actual reduction of more than $100 on their next property tax bill. It also cuts income taxes by $98.6 million.