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Much to like in Republicans’ tax plan
But part should be jettisoned, and we need to keep working toward flat tax
The best part about legislative Republicans’ proposed tax measure is that it really does cut taxes in a reasonable way for a lot of Wisconsinites, says an authoritative observer of states’ tax reforms.
The proposal, approved by the Legislature’s budget-writing Joint Finance Committee on June 12, would raise the upper limit of the personal income tax’s second-lowest bracket, meaning the tax rate on a lot of income would fall from 5.3 percent to 4.4 percent.
The move, said the Tax Foundation’s Katherine Loughead, “is a relatively well-structured way to provide relief for lower- and middle-income Wisconsinites.”
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