The National Federation of Independent Business (NFIB), Wisconsin’s leading voice for small business, announced strong support today for a tax relief package proposed by legislative leaders and sent to Governor Tony Evers for consideration. The plan represents a bipartisan compromise and directs a portion of the state’s $2.4 billion surplus toward immediate taxpayer and small business relief.

“We need to get the state’s surplus out of Madison and back into the hands of Wisconsin’s taxpayers,” said NFIB State Director Luke Bacher. “More money for taxpayers means more money put into our small businesses and local economies. State leaders must act decisively and pass this meaningful tax cut before the legislative session ends.”

The proposal uses the state surplus to reduce the tax burden on families and small businesses while strengthening key education initiatives. The major components of the plan include:

–  $500 million to reduce property taxes through the school levy credit.

–  $20 million in assistance for small businesses impacted by last year’s flooding.

–  $1.48 billion for rebate checks—$1,000 for married couples and $500 for all other qualifying filers.

–  $200 million to increase special education reimbursement.

–  $1.4 million to expand a tax deduction for certain educator expenses.

“If enacted, this would be the most significant action taken by the state government this session,” Bacher added. “On behalf of thousands of small businesses across Wisconsin, NFIB urges Governor Evers to approve this compromise and deliver much-needed tax relief to families and job creators.”