Wisconsin Legislature OKs Half-Billion Dollar Tax Cut

Feb 17, 2021

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The Wisconsin Legislature has signed off on a half-billion dollar tax cut for businesses that received loans.

That’s meant to help them keep employees on the payroll during the pandemic.

The legislation will cut taxes by $540 million by the middle of 2023 for businesses that got federal Payment Protection Plan loans.

The Assembly voted 87-3 and the Senate 2-5 on Tuesday to approve the Republican bill.

It now goes to Democratic Gov. Tony Evers who was non-committal last week about whether he would sign or veto the measure.

The Senate passed a myriad of virus-related bills before debate began on the loan deductions in that chamber.