Wisconsinites are starving for tax relief. In response, Gov. Tony Evers served up a three-course veto meal, leaving taxpayers with a bitter aftertaste. Each veto represents a broken campaign promise of tax relief for the middle class.
For breakfast, Evers vetoed a tax cut aimed at his own definition of middle class, a combined income of $150,000 or less. This cut was specifically targeted at retaining the majority of taxpayers, increasing the economic activity in the state.
Lunch brought the rejection of a retirement income exemption, a measure that could have provided financial security for retirees struggling to make ends meet. The governor’s decision left them with uncertainty about their future financial stability. For dinner, Evers vetoed a marriage credit expansion, dealing another blow to middleclass families hoping for relief. Governor Evers tries to justify his actions with a list of mendacious allegations. He claims that the Legislature’s tax cut would deplete the surplus unsustainably, yet analysis shows that the surplus would still exceed $1 billion at the end of the current budget, a historic high. Furthermore, the tax cut would not touch the rainy day fund, which stands at a record $1.85 billion. Finally, let’s not forget that we have cut taxes by over $22 billion in the past decade, yet our revenues are higher than ever. Tax cuts grow the economy, resulting in increased tax revenue to the state.
Evers and his Democratic allies use the same tired, old excuses of these tax cuts favoring the rich, but the facts tell a different story. The increase in the marriage credit simply adjusts for inflation to combat the marriage penalty, while the middle-class tax cut includes incomes below the maximum threshold for food stamps. The retirement income exemption phases out at $150,000 for married-joint filers, aligning with Evers’ own definition of the middle class.
Governor Evers’ veto trio has left taxpayers hungry for the relief they were promised. They can only hope that someday their governor will make good on his word and deliver the tax cuts they so desperately are hungry for.
Sen. Dan Knodl, R-Germantown, represents District 8 in the Wisconsin State Senate, covering most of southern Washington County, as well as parts of Waukesha, Ozaukee and Milwaukee counties. He can be reached at Sen.Knodl@legis.wisconsin.gov or 608-266-5830.