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Senate Republicans close to accepting deal on Walker tax cut plan

MADISON, WI (WTAQ) - The Wisconsin Senate's majority leader confirmed Tuesday that his caucus has one last detail to settle before it votes on the governor's tax cut package.

Scott Fitzgerald said Green Bay Republican Rob Cowles wants a spending cut of $35 million to help pay for the half-billion dollars in property and income taxes that are proposed.

The Senate leader said Cowles supports the tax cut. He has previously expressed concerns that it might leave a structural deficit for the next budget in 2015.

The Legislature's Joint Finance Committee is scheduled to hold a public hearing and a recommendation vote Wednesday on the measure. The tax cut would be funded with a projected billion-dollar surplus in the current budget.

Fitzgerald said the Senate's package would leave over $100 million in the state's general fund, and not the rainy day fund for emergencies.

Also, he said it probably will not include a sales tax break approved by the Assembly for construction firms when building schools and churches.  

(Story courtesy of Wheeler News Service)