$2 Tax Cut Kicks Burden Down the Road
Details are sketchy, but it appears that Scott Walker's much-hyped $2 weekly tax cut would grow Wisconsin's budget deficit by nearly $600 million -- a 29% increase.
In a radical budget that would defund Wisconsin's schools and cut access to BadgerCare for tens of thousands of Wisconsin families, Walker was proposing an income tax cut that would amount to about $2 per week for a family of four making $80,000. The full ramifications have not yet been scored, but it is already evident that this, and other new spending, would grow Scott Walker's deficit and add to Wisconsin's debt load.
"As he positions himself for a 2016 Tea Party presidential bid, Scott Walker is proposing to saddle future generations of Wisconsinites with debt, instead of investing in education, healthcare and infrastructure, and paying the bills Wisconsin already owes. Scott Walker has a record of kicking the can down the road, so it is unconscionable that he would threaten jobs and a fragile economic recovery by twisting Wisconsin's books beyond recognition," Democratic Party of Wisconsin Chair Mike Tate said Thursday.
"Wisconsin is ranked as the 2nd-worst economy in the nation and 42nd in job growth not in spite of Scott Walker's irresponsible budgets-but because of them."