Experts don't see big gain for economy, taxpayers in budget plan - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Experts don't see big gain for economy, taxpayers in Walker's budget proposal

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MADISON (WKOW) -- The governor's proposed income tax cut would give more money back to the rich than the poor, even though he billed it as targeting the middle class.

That's according to a report by the Wisconsin State Journal. The newspaper reports the tax cut Governor Scott Walker talked about Wednesday in his budget address would save a family of four earning less than $21,000 just $2 a year. Those making $80,000 would save $106 a year while those earning $374,000 or more a year would save $285 every year. That's according to an analysis by the Institute on Taxation and Economic Policy done for the Wisconsin Budget Project.

University of Wisconsin-Madison economics professor Andrew Reschovsky says there is no evidence Walker's proposed income tax cut will do much to encourage job growth and job creation.

 

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