Gov. Walker calls for special session of Legislature
MADISON (WITI) — Gov. Scott Walker called on Thursday, January 23rd for a special session of the Wisconsin State Legislature for the purpose of providing over $500 million in property and income tax cuts for the hard-working taxpayers and significant investment in worker training programs.
Gov. Walker’s order comes a day after he delivered the 2014 State of the State Address in Madison. In the address, Walker pitched his “Blueprint for Prosperity.” Key points from Gov. Walker’s proposals are listed below.
Governor Walker’s Blueprint for Prosperity
- Wisconsin built a $911 million surplus because of our bold reforms, a growing Wisconsin economy, and prudent fiscal management. Governor Walker wants to return a vast majority of this surplus to the hard-working taxpayers of Wisconsin.
- Governor Walker’s Blueprint for Prosperity will:
- Put more than $800 million back into the hands of the hard-working taxpayers all across the state through property and income tax cuts and withholding changes.
- Reduce property taxes by over $406 million—more than four times larger than the property tax relief we passed last year, and it is vitally important to protect working families, senior citizens, farmers and small businesses. The typical homeowner will see a reduction of $101 dollars on their next property tax bill compared to the previous year
- Reduce income taxes by nearly $100 million—all of which would go into reducing the lowest income tax bracket from 4.4 percent to 4.0 percent. If you are a family making $40,000, your savings will be about $58. No one will get a bigger savings than that.
- Reduce withholding tax for state income taxes by $322.6 million—this will let Wisconsinites keep more of their hard-earned paychecks. It will put more money in the hands of consumers and will continue to stimulate the economy. A typical family of four will see about $58 more in their paychecks each month. By the end of this year, that’s more than $520 dollars.
- Put more than $100 million in the rainy day fund.
- Increase the Wisconsin Fast Forward program by $35 million to focus on three new areas:
- Support for dual enrollment programs between school districts and technical colleges that target high demand jobs;
- Investment in our technical colleges to eliminate waiting list in high demand fields like manufacturing, agriculture, and Information Technology;
- And support for programs helping people with disabilities enter the workforce.