Governor Walker will deliver his annual State of the State address tonight at 7 p.m. before a joint session of the legislature. The speech will focus on the income and property tax cuts the Governor is proposing in light of the state’s nearly $1 billion surplus.
According to the Governor's office, the proposed tax cut plan will:
· Cut $406 million from property taxes, resulting in a $100 reduction on the average homeowner’s property tax bill
· Reduce income taxes by $98 million, which cuts taxes for the average filer by $44-$58
· Reduce the amount of income taxes withheld on paychecks.
· Deposit $100 million into the state’s rainy day fund
The plan will increase the state’s projected structural deficit by $100 million. The non-partisan Legislative Fiscal Bureau currently estimates that the state will have a $725 million shortfall going into the next biennial budget. Democrats and several Senate Republicans have expressed concerns over the state’s structural deficit and have urged the legislature to use caution when considering any further tax cuts this session. However, Assembly Speaker Robin Vos (R-Rochester) says Assembly Republicans are “united behind the idea” of additional tax cuts.
Ways to Watch the State of the State
1. Wisconsin Eye will live stream the speech and provide additional analysis before and after the address. Coverage will also be available on Wisconsin Eye’s T.V. station (Charter 995 - Time Warner 363)
2. Governor Walker launched prosperity.wi.gov yesterday, which will live stream the speech and provide additional information on the Governor’s plan
3. Wisconsin Public Television will provide coverage online and on T.V.
4. Several local T.V. stations will be providing live streams of the address on their websites, including Channel 3000 and WKOW in Madison, check your local station’s website to see if they are also covering the event
5. Wisconsin Radio Network will provide live audio of the speech