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Yes.
A veto issued by Gov. Tony Evers eliminated tax cuts on the income for Wisconsin married couples above the first $36,840 per year they earn.
Those couples still receive reductions on the first $36,840 earned.
The 2023-25 state budget approved by the Republican-controlled Legislature would have cut income rates across the board a total of $3.5 billion over the two years.
The Democratic governor’s partial veto of the budget removed the rate cuts in the top two of the state’s four income brackets.
That left rate cuts for the lower income tax brackets, totaling $175 million.
The rate cuts for married couples filing jointly are as follows:
Income $18,420 to $36,840: 4.65% to 4.4%
Income $0 to $18,420: 3.54% to 3.5%
Taxpayers receiving the rate cuts save an average of $36 in tax year 2023.
Under the budget approved by the Legislature, the average savings would have been $573.
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Sources
Wisconsin State Legislature Partial Vetoes of 2023 Wisconsin Act 19
AP News Wisconsin’s Democratic governor guts Republican tax cut, increases school funding for 400 years
Wisconsin State Legislature Individual Income Tax Rate Reductions under Enrolled 2023 SB 70 and 2023 Act 19
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