Wisconsin Senate Fails to Pass Tip and Overtime Tax Exemption Bill
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
The Wisconsin Assembly passed a $1.8 billion surplus package that included provisions to exempt tips and overtime from state income tax, but the Wisconsin Senate failed to pass the legislation.
From wisbusiness.com
Why it matters
Forward Analytics reported that implementing the exemption would reduce state collections by $2.7 billion over the next decade. The change could also boost consumer spending due to higher take-home pay for impacted workers.
From wisbusiness.com
Who's involved
- WisconsinState where the legislative action occurred.
- Tony EversGovernor who vetoed a previous GOP bill on the topic.
- senateLegislative body where the final vote against the bill occurred.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- WisconsinSpeculative
The state might see a difference in state income tax revenue due to the failure of the exemption bill.
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The entities involved
-
Wisconsin
state of the United States of America
-
Tony Evers
Governor of Wisconsin since 2019
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senate
type of legislative body, often the upper house or chamber of a bicameral legislature
Related events
- Wisconsin's state financial operations, including revenue distribution and budget changes, are being overseen by Governor Tony Evers and approved by party leaders.
- Tony Evers used partial vetoes to extend funding increases in Wisconsin.
- Tax collections in Wisconsin exceeded expectations, creating a state budget surplus.