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Gov. Walker calls for special session for $504M tax relief plan

Tax forms
Tax forms

MADISON, WI (WTAQ) - Governor Scott Walker has called a special legislative session to act on his $504 million tax relief plan.  

The Republican Walker issued an executive order that the session begin Thursday, on a package that returns just over half of the projected budget surplus of almost $1 billion.  

Assembly Speaker Robin Vos said Wednesday night he wants a public hearing on the property and income tax relief package next week, with a vote in his house on February 11th.  

Senate Majority Leader Scott Fitzgerald said he did not have enough votes to pass any tax relief plan yet. Some other Republicans predicted a smaller tax cut, with more of the surplus going toward the expected structural deficit at the start of the next budget in mid-2015.  

Under the proposal, the average homeowner would get a $101 property tax break over the next year-and-a-half. Income taxes would be cut by $44 to $58 a year per filer. Withholding tables would also be revised, so folks could get an extra $58 a month on their paychecks -- instead of waiting until the following spring to get that same amount back in their income tax refunds.  

The Walker plan would also add about $100 million for the state's rainy day fund, and $35 million toward worker training and technical college programs.

(Story courtesy of Wheeler News Service)

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