MADISON, Wis. (AP) — The Wisconsin Legislature has signed off on a half-billion dollar tax cut for businesses that received loans to help them keep employees on the payroll during the pandemic.
The legislation cuts taxes by $540 million by the middle of 2023 for businesses that got federal Payment Protection Plan loans. The Assembly voted 87-3 and the Senate 20-5 on Tuesday to approve the Republican bill.
It now goes to Democratic Gov. Tony Evers who was non-committal last week about whether he would sign or veto the measure. The Senate passed a myriad of virus-related bills before debate began on the loan deductions in that chamber.