Senate kills business equipment tax, sends bill to Evers
MADISON, Wis. (AP) — The state Senate on Wednesday sent a bill that would eliminate a tax on business equipment to Gov. Tony Evers.
The Republican-authored measure would eliminate the so-called personal property tax, a tax business pay on items such as furniture and machinery, on Jan. 1, 2022.
The state budget includes includes $202 million for local governments to offset the lost revenue. Assembly Republicans amended the bill Tuesday to backfill the state transportation fund with $20 million this fiscal year and $44 million every subsequent fiscal year to offset the loss of tax revenue from railroad equipment.
The Assembly passed the bill late Tuesday night. The Senate passed the measure 20-12 Wednesday and sent it on to Evers despite Democrats’ complaints that residential property owners will have to make up the lost revenue. His spokeswoman didn’t immediately respond to a message seeking comment on the proposal.