November 5, 2013
Senate Republicans Reject True Middle-Class Tax Relief, Oppose Providing Student Debt Relief for Millions of Wisconsinites
MADISON – In an attempt to pass true middle-class tax relief for those who made the investment to further their education, Democratic Senators used senate procedure to bring Higher Ed, Lower Debt legislation to a vote. Despite the bill's reasonable actions to allow refinancing of student loans and allow payers to deduct their student loan payments from state taxes, similar to a home mortgage, Senate Republicans voted unanimously to reject this legislation.
"I support Senator Hansen's legislation to provide Wisconsinites with much needed relief after making an investment in their education," said Senate Democratic Leader Chris Larson. "For recent graduates suffering in this lagging economy, refinancing of their student loans to a lower rate would provide important financial relief that our state's current economy won’t."
"More than the $2 tax cut in the GOP state budget or the $33 in property tax relief, this legislation will help middle-class families save up to $531 per year for the more than 750,000 Wisconsinites paying off federal student loans, and thousands more for those paying off private loans. This legislation would put Wisconsin at the forefront of much needed student loan debt relief."