The Sconi

Governor Tony Evers has unveiled his budget proposal for the 2025-27 period, introducing a series of tax and policy changes aimed at impacting small businesses and taxpayers across Wisconsin. Key elements include significant property tax relief and new sales tax exemptions, alongside initiatives for public education funding.

The proposal outlines over $1.3 billion in property tax relief measures, including eliminating taxes on cash tips, enhancing the Earned Income Tax Credit, and nearly doubling the personal income tax exemption. These measures are expected to save taxpayers approximately $225 million over two years.

Additionally, Governor Evers proposes a new tax bracket targeting individuals with incomes exceeding $1 million. This is projected to generate an additional $1.3 billion in revenue.

On the policy front, several labor-related initiatives are included:

- Employers would be required to provide wage information in job postings.

- A task force would be created to explore increasing the minimum wage.

- The reestablishment of a Wisconsin prevailing wage law is proposed.

- Mandatory eight weeks of paid family and medical leave would be required from all employers.

- The state's Right to Work law would be repealed.

- Employers could face mandatory penalties for noncompliance with wage payment laws.

- Employment discrimination protections would expand to cover gender identity and expression.

Estimates suggest that these proposals will increase state spending by about 20 percent or nearly $119 billion over two years. The Joint Committee on Finance will now review and revise the budget legislation.