Wisconsin families with school-aged children would receive a one-time $100 tax rebate this summer and state sales tax would be waived on certain purchases the first weekend in August under a deal Gov. Scott Walker and Assembly Republicans announced on Thursday.
The Assembly will approve the plan later this month, Vos said. It’s not clear what will happen in the Senate, which must also approve it before it goes to Walker. Republican Senate Majority Leader Scott Fitzgerald’s spokesman did not immediately return a message seeking comment.
Under the deal, families with children who were between the ages of 5 and 17 last year and are now living at home would receive $100 for each qualifying kid. The money, estimated to come to about $122 million of the state’s budget surplus, would be delivered to all families regardless of income sometime in July. That is unchanged from what Walker had originally proposed.
“As I promised, when we have a surplus, we will give it back to you,” Walker said in a statement. “It’s your money.”
Walker originally wanted to offer a refundable income-tax credit starting in 2019, but that plan has been scrapped. Instead, there will be a one-time waiver of the state’s 5 percent sales tax on certain purchases, provided they cost less than $100 and are made in the first weekend in August. The total estimated cost to the state in lost tax revenue would be about $50 million.
“Our goal is actually to increase the economic ability of families this year,” Vos said, noting that the benefit will extend to all families regardless of income.