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Walker: Revenues up, expect more tax cuts

Governor Scott Walker
Governor Scott Walker

STRATFORD, Wis. (WDLB-Wheeler News Service) -- Governor Walker went from the White House Tuesday to a manufacturing plant in central Wisconsin Wednesday. Walker toured A & B Process Systems in Stratford, as part of the company's 40th anniversary celebration.

And Walker told A & B workers that their employer is partly responsible for higher revenues in the state. The Governor said Wisconsin's projected tax collections for the current budget period will be much higher than expected. “And it’s happening because the economy is improving better than we expected. More people are working. More businesses are hiring. The other good piece, the third component is, more people are earning more money than they did before.”

Walker said he wants to use the extra revenues to cut both property and income taxes, and he'll outline those plans at next week's State of the State Speech to the Legislature.

Walker said his proposed tax cuts would be much bigger than the 100-million dollar property tax cut that he and lawmakers approved last fall. And unlike the last cut, Walker said workers would see the income tax reductions in their paychecks. “Personal income is up, in fact, if you look last year even at the end, last year, between the second and the third quarter of 2013, we were the fourth best state in the country for an increase in your personal income. That means not only are more people going back to work, people are earning more, more personal income, more household income. That’s a good thing, because that’s helping us with the economy. That’s why we see the better than expected revenue numbers.”

Walker gives his state-of-the-state speech next Wednesday night. He is expected to provide more details about his proposed tax cuts during that speech.

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