Wisconsin Senate Bill 2

Major Tax Reform Bills Get Public Hearing 

This week Senate Bill 1 (establishing a flat tax) and Senate Bill 2 (eliminating the personal property tax) received a public hearing in the Senate. Both proposals received overwhelming support with nearly every person attending in favor of the bills. SB 1 had 27 registrants in favor and only one registrant opposed, SB 2 had 63 registrants in favor and none opposed. 

Since 2011, the Legislature has cut taxes by a cumulative $22 billion, including eliminating several taxes entirely. State and local taxes as a share of personal income have fallen to the lowest level since at least 1970. Despite our progress, Wisconsin’s tax code is still too burdensome putting our state at a competitive disadvantage nationally. Only 9 other states have a higher individual income tax rate, and 31 states have a top individual income tax rate that is lower than Wisconsin’s third tax bracket rate of 5.3%. 

These bills would help both families and small businesses by accomplishing truly transformative tax reform making Wisconsin a more competitive state nationally. SB 1 achieves that by moving Wisconsin to a 3.25% flat tax by tax year 2026. At that new rate, only 11 states will have a top individual income tax rate lower than Wisconsin. SB 2 follows the lead of states around the country and here in the Midwest, that have eliminated or are phasing out the personal property tax. The language in SB 2 received bi-partisan support last session but was vetoed by Governor Evers. Both of these policies have broad support among stakeholders across Wisconsin, and I hope we will send them to the Governor, and I will encourage him to sign them

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We look forward to seeing everyone tomorrow for our Day on the Hill! 

We look forward to seeing everyone tomorrow for our Day on the Hill! 

Wisconsin eliminates personal property tax effective January 1, 2024

Wisconsin eliminates personal property tax effective January 1, 2024

Larry Harb

Larry Harb

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The Wisconsin Auctioneers Association actively advocates for the auction industry through grassroots lobbying and a WAA legislative fund. Member engagement and donations are key to the success of WAA advocacy efforts.

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