Rep. Tony Kurtz’s Statement on Tax Cut

Contact: Rep. Tony Kurtz
rep.kurtz@legis.wi.gov

Rep. Tony Kurtz’s Statement on Tax Cut

MADISON –Rep. Tony Kurtz (R-Wonewoc) issued the following statement after the Wisconsin State Assembly passed Assembly Bill 386 which cuts the tax rate of the third bracket from 5.3% to 4.4%, saving the average filer over $700 a year. Additionally, the bill would exempt the first $100,000 for individual filers and $150,000 for joint filers of retirement income from taxation for Wisconsin residents over the age of 67.

“I’m proud to, for the second time this session, support one of the largest tax cuts in Wisconsin’s history that returns $2.9 billion of the surplus to Wisconsin taxpayers. This tax cut directly impacts approximately 17,000 filers in the 50^th Assembly District and has a broad impact on nearly every household.

“I really want to stress how important the exemption for retirement income is for the people in my district. We live in an aging area of the state, which means a lot of the wonderful people in our local communities are on a fixed income, so the inflationary prices we’ve seen the last several years, as well as any variation in taxes can have a major impact on their day to day lives. Allowing our retirees to keep their retirement income helps to ensure more financial freedom for retirees to truly enjoy their lifetime of hard work.”

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