Does not include any state sales or income tax increases (except those directed at the poor, see Low-Income section) and would limit schools and local governments on how much they could raise property taxes. Walker also said he wouldn’t increase any fees.
Freezes tax levies for municipalities and counties for the next two years - with the only increases coming in proportion to new property value added by construction.
From the Center on Budget and Policy Priorities:
In Wisconsin, Governor Walker proposes $82 million in new corporate tax cuts. For instance, he proposes allowing corporations to claim as a tax deduction a greater share of the losses they have incurred in past years. Together with other tax cuts enacted with the governor’s support earlier this year, the total revenue loss to the state is about $200 million over the next two year budget cycle, increasing the shortfall that the state will need to close. Walker proposes to cover $41 million of this shortfall by scaling back the state’s Earned Income Tax Credit for low-income working families. A single working parent with two kids and earnings of $25,000 would see his or her annual income tax bill more than double, from $193 to $394.