Wisconsin Republicans Urging Adoption of a Flat Income Tax
Wednesday, January 11th, 2023 -- 9:11 AM
(By Jonah Beleckis, Wisconsin Public Radio) Citing efforts to retain or attract more people to Wisconsin, state Republicans are urging the adoption of a flat income tax as lawmakers in the Capitol prepare for another round of state budget negotiations this year.
According to Jonah Beleckis with Wisconsin Public Radio, during an appearance Monday on Wisconsin Public Radio’s "The Morning Show," Assembly Speaker Robin Vos, R-Rochester, argued a flat income tax would make Wisconsin more competitive with tax rates in other states.
"Our state is graying faster than the national average, and we have not net new migration," he said. "When you find out that it’s significantly cheaper for someone to live in Florida, Arizona, Tennessee or Texas, we certainly can deal with the tax climate to try to keep more of those people in Wisconsin contributing to our long-term viability."
Vos said a flat income tax plan, which state Senate Majority Leader Devin LeMahieu, R - Oostburg, also embraces, would give everyone in the state a reduction in their taxes, including high-income earners. Income tax rates in Wisconsin are currently split into four brackets based on income level:
- $0 to $12,760 is taxed at 3.54 percent;
- $12,760 to $25,520 is taxed at 4.65 percent;
- $25,520 to $280,950 is taxed at 5.3 percent;
- And more than $280,950 is taxed at 7.65 percent.
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