Whether Black, Brown, or white, rural or city, we all can thrive when state leaders invest in our children, families, and communities. The 2023-25 state budget provides an opportunity to leverage the state’s strong fiscal position to create a solid foundation for everyone. But many… Read More »The State Budget is an Opportunity to Reduce Income Inequality
From Racine to Rice Lake, Wisconsinites work hard to provide for their families. In the wake of the pandemic, the rising cost of goods and services has mahttps://wisconsinbudgetproject.org/wp-content/uploads/2023/05/Revenue-2-4-13-2023.pdfde it difficult for many to make ends meet. And for too long, certain politicians have created barriers… Read More »The 2023-25 State Budget Should Support Wisconsin Families Who Are Struggling to Get By
Wisconsin can be a place where we all—regardless of race or place—have what we need to overcome challenges and make our families safe and well. The state’s historically large surplus is an opportunity to build a stronger foundation for children and families in our state,… Read More »Wisconsin’s Strong Fiscal Position is an Opportunity to Ensure Everyone Benefits
August 9, 2021 — The huge tax cut that Wisconsin lawmakers passed in the state budget far outstrips the minimal investments they made in critical priorities like education, health, and workforce development. The size of the tax cut will make it harder for schools, communities, and families with low incomes to get the resources they need to thrive. Diverting billions of dollars to a tax cut that leaves out people with low incomes will also make it more difficult for the state to address the racial disparities that hold back Wisconsin.
May 13, 2021 — Last week the legislature’s budget committee removed a provision from the state budget that would have provided health insurance to almost 100,000 Wisconsin residents with low incomes, and would save the state more than a billion dollars in tax revenue over the next two years. On the same day, the committee preserved a tax cut that funnels millions of dollars into the pockets of a small group of the extremely wealthy who have rigged the system for their own benefit. This combination of actions demonstrates the legislature’s priorities so far in the budget process: making it more difficult for people with low incomes to meet their basic needs, while refusing to accept proposed changes that would require big corporations and the top 1% to pay their fair share.
March 4, 2021 — The Governor’s budget proposes significant changes in tax policy, including closing income tax loopholes that favor the rich and powerful, and increasing tax credits for low-income households. These changes enable the budget to make large investments that will improve our state’s long-term prosperity, while also creating a tax system that provides a more level playing field for Wisconsin businesses and individuals.
February 15, 2021 — Wisconsin state lawmakers are rushing to pass a new tax break for businesses, with a minimum of opportunities for public input. The tax cut would significantly reduce the amount of resources Wisconsin has to invest in families, schools, and communities that have been battered by the pandemic and the recession, and it would fail to help many small businesses who are the intended beneficiaries.
October 1, 2020 — The disclosure that President Trump pays next to nothing in income taxes has highlighted the fact that the federal tax system is stuffed full of loopholes that are only available to the ultra-wealthy. But you don’t have to look to the federal system to find a tax code tilted in favor of the rich and powerful. Wisconsin’s own state and local tax system is also loaded up with a collection of special-interest tax breaks that siphons revenue away from where it is needed most. The Wisconsin tax code is a major driver of economic inequality, and contributes to the increasing concentration of income and wealth in a few hands — hands that are most likely to be white, due to a long history of racial discrimination.
February 18, 2020 — As the 2020 legislative session winds down, the Wisconsin Legislature is rushing to pass a bill this week (SB 440)/AB 532) that would double a current state tax break for very wealthy investors who reinvest money in “Opportunity Zones.” A new Budget Project issue brief explains why the existing tax breaks for the rich are not having the intended effects and why it’s premature to increase those tax breaks.
February 18, 2020 — Wisconsin legislators are considering a bill that would double a capital gains tax break approved two years ago, which was intended to encourage very wealthy people to invest in “distressed” areas. Although that strategy for incentivizing investments in “Opportunity Zones” was well intended, commentators across the political spectrum have noted that implementation of the recently enacted tax incentives has gone off course and will primarily benefit rich Americans, rather than the residents of low-income communities.