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UPDATE: State senate approves tax cuts by 1-vote

UPDATE: The State Senate approved Governor Walker's tax cut package on a 17-16 vote. All Republicans except Dale Schultz voted in favor. All Democrats voted against. The meansure must go back to the assembly for final passage, which is expected later this month.

 

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MADISON, Wis (WSAU-Wheeler News)  Wisconsin workers and property owners will soon be one step closer to getting a major tax break. The state Senate is scheduled to meet late this morning to act on a $504-million tax cut package.

Majority Republican leaders say they have enough votes in both houses to pass it. They'll give the Republican Walker the original tax cuts he proposed in January -- a $131 property tax reduction this year for the median-priced home, plus a $46-dollar average income tax cut.

The G-O-P negotiated some late changes on other parts of the package. Another $100-million would be placed into the state's general fund, instead of the original idea of expanding the government's rainy day fund. Also, there are $38-million in new spending cuts to off-set a possible structural deficit to start the next budget period.

Democrats still say the middle class would not get enough of the tax break, to be funded by a projected billion-dollar surplus in the current state budget. Senators are also expected to spend another $35-million of the surplus on job training grants.

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