MADISON, WI (WTAQ) – For the first time in 34 days, the new state budget has a chance of officially moving forward Thursday.
The Legislature’s Joint Finance Committee is due to take its final action on the two-year spending package — but not before considering a number of last second changes from GOP lawmakers.
They include a $550 increase in the standard deduction for married couples who file their taxes jointly — a cut in the alternative minimum tax — a $250 state deduction for taxpayers who cover their own classroom expenses — a lower tax on hard cider — and the possibility of $350 million more for highway borrowing to be controlled by the finance panel on top of the half-million already agreed upon.
Meanwhile, question marks remain on whether the full Legislature will approve the finance committee’s package. The Assembly will take it up next week.
(Story courtesy of Wheeler News Service)
