The National Federation of Independent Business (NFIB), Wisconsin’s leading small business advocacy organization, released the following statement regarding lawmakers’ failure to pass the Surplus Deal package.

“To call this a major missed opportunity to deliver real, meaningful tax relief for Wisconsinites is an understatement,” said NFIB Wisconsin State Director Luke Bacher. “Putting politics ahead of taxpayers risks the well-being of Wisconsin’s economy and ability to compete with other states. NFIB thanks Governor Evers and all those in the legislature who voted in favor of the Special Session legislation that would have delivered over $1 billion in much-needed tax relief to our state’s small businesses and families.”

The Surplus Deal comprised the following main components:

–  $232 million for the exemption of income tax on tips and overtime wages.

–  $815 million in the form of one-time surplus rebate payments of $600 for married joint filers and $300 for individuals.

–  $350 million in property tax relief to be immediately reflected on property tax bills this December.

–  $300 million in education funding specifically for special education costs.

You can read more about the bill here.