Mark Pocan: State budget taxes poor, gives to the rich
Last night, I was the second member of the Assembly Democratic caucus to talk about the Republican budget on the floor of the Assembly. I’ve received good feedback from my speech, so I’d like to summarize it here:
1) Republicans have created so many corporate tax breaks in this budget that the Legislative Fiscal Bureau pegs the 10-year cost in reduced revenue to the state at $2.3 billion.
2) Republicans use credit card spending to push $338 million dollars in state debt off into the future, costing us an additional $89.9 million in interest.
3) The GOP budget includes, at a minimum, $411 million in fund raids.
4) In the 2015-2017 biennium, Republicans cost the state $501.7 million in lost revenue because of their giveaways to corporations and the rich.
5) After claiming they don’t raise taxes in this budget, Republicans actually increase fees by $111 million.
6) After giving tax breaks to the rich and corporations, Republicans take away programs that help the middle class with their changes to the Homestead Tax Credit and the Earned Income Tax Credit.
7) After all their talk during previous budgets about freezing property taxes, the Republican budget will result in $438.8 million in property tax increases.
Wisconsin State Representative Mark Pocan (D-Madison), who coined the term FitzWalkerstan on the floor of the State Assembly, served three terms on the state’s budget committee, including one as its co-chair. He also served as the vice-chair of the non-partisan National Council on State Legislature’s Budget and Policy committee. Pocan’s Assembly district includes both the State Capitol and the Governor’s Mansion, making Governor Scott Walker his most infamous constituent.