Democratic Gov. Tony Evers signed a Republican-authored bill Monday that dramatically expands the state child care tax credit, days after vetoing three other GOP bills that would have delivered $800 million in tax cuts.<\/p>\n
The governor posted on X, the social media platform formerly known as Twitter<\/a>, that he signed the child care measure because “the cost of child care is too darn high.”<\/p>\n The median child care cost last year in Milwaukee County, the state’s most populous county, was $19,096, equivalent to about 26% of the median family income of $62,314, according to the U.S. Department of Labor. The cost last year in Dane County, the state’s second-most populous county, was $19,586, equivalent to about 17.6% of the $94,813 median family income.<\/p>\n WISCONSIN GOV. EVERS SIGNS DEER HUNT LICENSE PRICE HIKE INTO LAW<\/strong><\/a><\/p>\n The bill expands the state child care tax credit<\/a> to 100% of the claimants\u2019 federal child care tax credit. Currently filers can claim only 50% of the federal credit on state taxes. The amount of maximum eligible expenses under the state credit would grow from $3,000 to $10,000 for one qualifying dependent and from $6,000 to $20,000 for two or more dependents.<\/p>\n The move is expected to cost the state about $73 million in annual revenue, according to the state Department of Revenue.<\/p>\n The measure was part of a package of tax cuts Republicans introduced<\/a> in January. The legislation included the child care tax credit expansion; a bill that would have expanded the state\u2019s second income tax bracket to cover higher earners, resulting in at least $750 million in income tax savings annually, according to legislative fiscal analysts; a bill that would have increased the marriage tax credit; and a bill that would have increased income exemptions for retirees.<\/p>\n Fiscal analysts projected that taken together the four bills reduced state tax revenue by $2 billion in 2024-25 and about $1.4 billion every year thereafter.<\/p>\n Evers vetoed all the bills except the child care tax credit expansion on Friday, saying the cuts would drain the state’s reserves.<\/p>\n Evers vetoed a similar GOP tax cut plan in November. Republicans lumped all the proposals into a sweeping omnibus bill during that go-around. This time they broke the plans into separate legislation.<\/p>\n The governor also used his partial veto powers in July to reduce a $3.5 billion income tax cut plan the GOP included in the state budget to just $175 million, which equated to a $3- per-month reduction for the average taxpayer.<\/p>\n","protected":false},"excerpt":{"rendered":" Democratic Gov. Tony Evers signed a Republican-authored bill Monday that dramatically expands the state child care tax credit, days after vetoing three other GOP bills that would have delivered $800 million in tax cuts. The governor posted on X, the social media platform formerly known as Twitter, that he signed the child care measure because … Read more<\/a><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-6585","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/6585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=6585"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/6585\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=6585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=6585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=6585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}