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Assembly Speaker Vos considering end to alternative mininum tax

MADISON, WI (WTAQ) - Wisconsin Assembly Speaker Robin Vos now says he might seek an end to the alternative minimum tax in the current legislative session.  

Vos said last week he would consider a sales tax holiday for back to school purchases, as a small tax relief measure for 2014 while larger tax relief is debated in the fall election campaigns.  

However, the Republican speaker said any tax relief for the coming year hinges on the state's financial condition -- which will be updated next month.  

The alternative minimum tax is charged to those with large amounts of deductions. The federal tax affects numerous middle class residents, but the state alternative minimum tax was paid by only 5,900 filers in 2011. It brought in a total of $6.5 million.  

The speaker's recent comments revived a proposal for a back to school sales tax holiday proposed last February by Assembly Republican Chad Weininger of Green Bay and Senate Republican Rick Gudex of Fond du Lac. Weininger now expects a public hearing on his plan soon.

Lawmakers plan to meet only a few times in 2014, before adjourning their session for good in March or April.  

(Story courtesy of Wheeler News Service)