State Revenue Department Tax Cut Projections

12/28/17 – The Wisconsin Department of Revenue projects a tax cut of a little over 25-hundred dollars for the typical family of four under the tax reform plan passed by Congress.  Analysts with the revenue department based their estimate on a median income for that family of almost 95-thousand dollars.  From that basis, they applied changes like the increase to the standard deduction, reduction of the 15 percent tax bracket to 12, and the doubling of the child tax credit.  Democrat analysts warn the middle class tax cuts will become tax hikes by 2025.