Think Progress: After Pledging To Not Raise Taxes, Walker Proposes Hiking Taxes And Fees On The Poor And Students

April 16, 2011- One of the most important ideological commitments of the modern conservative movement is an opposition to tax increases. It is with this ideology that then-Wisconsin gubernatorial candidate Scott Walker signed Americans For Tax Reforms’ “Taxpayer Protection Pledge,” a vow not to raise taxes on the people of his state.

Yet in his newly proposed budget, now-governor Walker appears to have already broken this pledge. While the budget would lower taxes overall — it includes $83.3 million in tax cuts “primarily for businesses and investors” — it would make up for lost revenue by eliminating tax credits and exemptions that primarily benefit the poor and even some in the middle class.

Wisconsin’s Legislative Fiscal Bureau — the state’s equivalent of the Congressional Budget Office — finds that this would amount to a $49.9 million tax increase on people who receive these credits over the next two years:

Low and middle income people would lose tax credits worth about $49.4 million over two years, the new Legislative Fiscal Bureau report said.

Those affected most by Walker’s proposal would include low-income families who qualify for the earned income tax credit program, and low-income homeowners who receive tax rebates under the homestead tax credit.

FULL STORY HERE:


'Think Progress: After Pledging To Not Raise Taxes, Walker Proposes Hiking Taxes And Fees On The Poor And Students' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Copyright Kochwatch 2014. All rights reserved.