MADISON, Wis. (AP) – Assembly Republicans are set to put the finishing touches on Gov. Scott Walker’s $504 million tax cut plan.
The chamber is set to vote on the measure Tuesday. The Senate passed it last earlier this month; Assembly approval would send it to Walker for his signature.
Walker wants to use a portion of the state’s projected $977 million surplus to fund property and income tax cuts. He introduced a bill in January that would send $406 million to technical colleges to reduce their property tax hit and cut income taxes by $98 million by reducing the lowest bracket from 4.4 percent to 4 percent.
The end result would be a $131 reduction a median home’s tax bill this December and $46 in annual income tax savings for the average worker.