December 22, 2017

State Representative Janel Brandtjen

State's Portion of Property Tax Disappears

By now many of us have received their property tax bill for 2017. Notice that last year the State of Wisconsin levied a tax but this year there is no state portion of your property tax. In fact the tax bill on a typical Wisconsin home is lower today than in 2010. According to our numbers here in the legislature we have lowered taxes by $8 billion since 2010 and we're not done yet. The Wisconsin Taxpayers Alliance put together some nice information. 

 President Trump Signs Major Tax Relief

There's a saying in baseball that claims "the game knows who's been putting in the work." I've never been one for clichés but the proof is in the pudding seems to be extremely accurate in this case. By February of 2018 employers will start adjusting their withholding amounts on paychecks to reflect the new tax rates and hence the new estimated tax bills for their employees. Almost everyone will see an increase in their take home pay.

The rate of taxation for businesses in the United States is the highest in the industrialized world. President Trump has been consistently pushing the narrative that if we had competitive rates for corporations many overseas companies would come back to the United States and revenues from businesses would increase. I agree with President Trump and I fully expect to see a growing economy that creates jobs and wealth for Americans. It is estimated that there is $4 trillion overseas that could be coming back to the United States. The house and senate conference committee has a nice summary of the provisions.

2017: A Year of Economic Growth and Job Creation

Since the election of Donald Trump the stock market has risen steadily. The Dow Jones Industrial Average closed Nov 7, 2016 at 17,888.28 after a nine day skid due to election jitters. This week the Dow Jones is pushing very close to 25,000.00. Those who have their retirement funds and savings in stock based assets are doing well. Having America's pension accounts on solid footing benefits all of us.

The job market is looking very promising for all Americans. Since January 20, 2017 there have been 1.2 million jobs added across the country. As we get to full employment (including those who have left the work force) real wages should start to increase. I'm looking forward to see what American ingenuity, work ethic and values can bring to the new year.

God Bless Wisconsin!

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Merry Christmas to all!