State Rep. Warren Petryk

Our state is strong, but much more work remains to be done to assist residents of our great state. We continue to pass legislation and fund priorities that are important to our community thanks to Legislative Republicans. This includes allocating more funds to repair our roads and increasing resources for our community schools. But we need to continue to move forward by returning the state's substantial surplus to Wisconsin taxpayers who are still feeling the effects of rising inflation.

Since 2011, the Legislature has cut our state's taxes by more than $22 billion. And this year, the state overtaxed you by $3 billion over the biennium. We've already sent the governor three tax cut proposals, and this is his last chance to change course and improve the state of our state. The new plan announced this week will keep our state moving forward while also providing much-needed relief for Wisconsin families.

The tax package consists of four bills that will provide $2.1 billion in tax relief, meaning an average 15% decrease in taxes for Wisconsin residents. The first part of the package provides broad-based tax relief by lowering the tax rate on income up to $112,500 ($150,000 married). This decrease will result in an average filer receiving $454, and with changes to withholding tables in the bill, people will see a direct benefit beginning with their August paychecks.

Second, the package benefits seniors with fixed incomes by making their retirement savings tax-free up to $75,000 ($150,000 married). We are aware that seniors are choosing to leave Wisconsin and relocate to other states where their income is not taxable. Why not send them a signal to stay in Wisconsin. And by keeping them here it allows us to retain their workforce knowledge and help train our future workforce. Finally, to assist families struggling with rising childcare costs, the package will double the state tax credit to match federal credits. By increasing the maximum allowable expenses for the childcare and dependent care tax credit, families will receive an additional $656. In addition, we propose expanding the married couple credit to account for inflation since 2001, which would help eliminate the penalty for joint filers who pay more taxes because they are married.

Furthermore, as Chair of the Workforce Development Committee, I will continue to push our state agencies to prioritize job placement. That is why I am hopeful that the Governor will stop saying no and sign legislation that will provide unemployed people with tools to help them find work. Also this session I will continue to work to pass legislation that expands Wisconsin's talent pipeline to ensure that our businesses have access to the workforce they require to grow and invest in our state.