Wisconsin’s Senate Majority Leader is explaining the process to try to return the state’s surplus to residents.
Sen. Devin LeMahieu, on WOMT’s Be My Guest program yesterday (February 23rd), said the state senate is negotiating with the state assembly and Governor Tony Evers.
He mentioned introducing a bill to exempt overtime from taxes.
Sen. LeMahieu says the state added more funding toward special education and some property tax relief due to Evers’ 400-year veto.
Now, the Wisconsin State Assembly is working to return the remaining surplus to taxpayers.
The Senate Majority Leader explained, “Doing income tax rebate checks to people who paid income taxes in 2024, because that’s the last year we have tax returns for.”
That would include $1,000 rebate checks for joint filers and $500 for everyone else. But recently:
“The governor came out at the end of last week and called rebate checks a gimmick,” he stated. “In spite of the fact that he proposed rebate checks in 2022 when he was running for reelection.”
LeMahieu continues, saying that the surplus is funded by Capital Gains Tax, which can be hard to determine in the future.
That’s why the Oostburg Republican says the rebate checks are a good option.
So far, Senate Bill 1, which was introduced by Sen. LeMahieu, has been passed by the Committee on Agriculture and Revenue by a 5-3 vote.
Now it would have to go to the Wisconsin Assembly.
