Wisconsin Senate GOP leader working on income tax decrease for families earning up to $200,000.

U.S. capital Madison — Senate Republicans are now working on a plan that would reduce income taxes for families in Wisconsin earning up to around $200,000, according to a GOP lawmaker who made the announcement on Thursday.

Democratic Governor Tony Evers has rejected previous tax cuts that would have extended to taxpayers earning up to around $405,000, so the plan would aim at middle class families in an effort to gain Evers' backing, according to Senate Majority Leader Devin LeMahieu.

According to LeMahieu, who said after making a presentation at a WisPolitics.com event, the specifics of the most recent proposal are still under development.

However, in principle, it would reduce the tax on income for families from 5.3% to 4.4%. People with incomes between around $36,000 and around $405,000 are now subject to a tax rate of 5.3%.

He estimated that the proposal's annual cost would be around $1 billion. It's something we're sure the governor can sign, according to LeMahieu.

Because she felt they didn't help the middle class, Evers rejected previous income tax cuts supported by Republicans. In his state budget proposal from last year, Evers proposed a tax decrease, but Republicans shot it down.

Britt Cudaback, a spokesman for Evers, chose not to address the most recent plan. The governor has already said that the state should not fall into debt as a result of any future tax cuts, so she used those remarks instead.

Last month, Republican Assembly Speaker Robin Vos stated his support for a reduction in taxes on income for retirees. A wide decrease for all taxpayers is what LeMahieu is in favor of, rather than tax cuts that "choose winners and losers," as the governor put it.

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