Wisconsin Assembly OKs half-billion dollar tax cut

The Wisconsin Assembly is signing off on a half-billion dollar tax cut for businesses that received loans to help them keep employees on the payroll during the pandemic.

The chamber voted 87-3 on Tuesday to approve the Republican bill.

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

The measure is slated to go to the Senate later Tuesday.

If passed, it would then go 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.