Cut taxes now and unleash America's economy
When I took office in 2011, the people of our state were suffering from record job loss and a multi-billion-dollar budget deficit. We immediately set out to reform government, balance the budget and cut taxes. The results have been undeniably positive for the hard-working taxpayers of Wisconsin and for the bottom line of the state.
Property taxes will be lower in 2018 than they were in 2010. Income taxes will be lower in 2018 than they were in 2010. We even eliminated the entire state tax on the property tax bill for the first time since 1931. The cumulative impact of our tax relief through the end of the current budget will exceed $8 billion.
For decades, we were stuck at the bottom among the worst states for taxes. In 1995, our combined state-local tax burden ranked fourth highest in the nation according to the U.S. Census Bureau. In 2010, we ranked ninth. Today, thanks to our tax relief, Wisconsin now ranks below the national average for state and local tax burden.
Our nation’s tax code, on the other hand, is outdated and in desperate need of reform. Due to the incomprehensible regulations and untold pages of forms and instructions, nearly 90% of taxpayers need external help to simply comply with paying their taxes. Across the country, this time and energy spent adds up to some 6 billion hours and $15 billion to $16 billion in tax compliance costs, according to the Internal Revenue Service and the National Federation of Independent Business.
We’ve proven in our state you can cut taxes, create jobs, and generate budget surpluses at the same time. If it can work in Wisconsin, it can work for America.