The average Wisconsin taxpayer would see their income taxes reduced by $200 annually under one of the plans being proposed to spend down a $7 billion surplus.
The average Wisconsin taxpayer would see their income taxes reduced by $200 annually under one of the plans being proposed to spend down a $7 billion surplus.
An Oxfam report released this week shows the richest 1% of individuals have gotten richer since the pandemic, capturing almost two-thirds of all new wealth. The report calls for a 5% tax on the world s multimillionaires and billionaires. The finding comes as one state lawmaker pushes for reinstating the state s graduated income tax on Kentucky s highest earners. .
West Virginia s teachers union warns that new proposed tax cuts will further shrink school budgets and drive more educators out of the profession. A crippling number of vacancies are straining school operations, and the number of non-certified teachers that have left their jobs has doubled since 2018, according to the state s Department of Education. Dale Lee, West Virginia Education Association President, said he welcomes the governor s 5% pay raise for state employees, but added it is not enough to reverse the worsening teacher shortage in public schools. .
Wisconsin lawmakers are back in session and have a large budget surplus to work with. Advocates for the state s older residents hope any spending plan prioritizes certain needs for this population, and those who care for them. The Legislature is being asked to reconsider the idea of a Caregiver Tax Credit. .