(Madison) Governor Tony Evers has used his partial veto powers on the proposed state budget and signed the remainder into law yesterday (Thursday). The new budget trims back a Republican plan of $4-billion-dollars in tax cuts to just $2-billion, which Evers says he is targeting the tax cuts to Wisconsin residents.
Evers says the budget alone provides $2-billion-dollars in individual income tax relief over the biennium and approximately $1-billion-dollars annually going forward. Revenue Secretary Peter Barca says an unexpected surplus in funds made the cuts possible. He says it is a direct result of sound fiscal management of careful decision-making at the beginning and throughout the pandemic.
Evers also removed a modification to the state’s income tax withholding tables, as well as a $550-million-dollar transfer of cash to the state’s rainy day fund. The Governor is also investing an extra $100-million-dollars in federal stimulus to Wisconsin schools.
State Representative Mark Born says while he is pleased the Governor signed nearly all of the Republican plan, Evers (quote) “could not help himself and used his powerful veto pen to carve up a common-sense document.” Born says the vetoes mean more money will be taken than needed from family’s paychecks and kept with the government. The Beaver Dam Republican adds that there is now less funding available in the future for roads and money for the rainy day fund, specifically for K12 education.