NFIB Backs Tax Cut Proposals
A blueprint for prosperity was unveiled by Governor Scott
Walker during the Annual State of the State address to a Joint Session of the
Legislature. The centerpiece of his
proposal is a reduction in property taxes by over $406 million, and income tax
cuts of nearly $100 million.
The tax reductions are possible as a result of the state’s
economy projected to grow at a higher rate than previous estimates.
The Governor has also proposed reducing withholding for
state income taxes by $322 million, and setting aside $100 million for the
state’s rainy day fund.
NFIB’s State Director, Bill G. Smith, said, “The Governor’s
initiative would help free up business capital for investment and encourage
more consumer confidence, which is what small business needs the most.”
The tax cut package is being reviewed by members of the
Assembly and Senate. A vote is expected
in mid to late February.
NFIB members are
encouraged to contact their elected officials to urge support for the
Governor’s Tax Cut Proposal.