MADISON, Wis. (AP) — Gov. Tony Evers on Friday vetoed a nearly $800 million income tax cut passed by Republicans, along with bills that would have increased the income tax credit for married couples and raised the amount of retiree income exempt from the state income tax.
Republicans who voted to pass the bills in February said they were designed to make Wisconsin more attractive for families, middle-income earners and retirees. But Democrats said there were better ways to do that.
The veto of the income tax cut was expected as the Democrat Evers has twice rejected similar tax cuts.
The latest bill would have expanded the state’s second income tax bracket so more income would be subject to a lower rate.
Currently, the second bracket covers individuals earning between $14,320 to $28,640 and married couples making between $19,090 to $38,190. Under the bill, earnings up to $112,500 for individuals and $150,000 for married couples would be subject to the 4.4% rate, down from 5.3% now.
Evers also vetoed a bill that would have increased the income tax credit for married couples from a maximum of $480 to $870.
The other bill Evers vetoed would have increased the amount of retirees’ income exempt from the state income tax from the first $5,000 to the first $75,000 for single filers. The first $150,000 of retired married joint filers would have been exempt under the proposal.
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